Eric M. Clarkson | Saxe Doernberger & Vita Nearly half of America’s construction projects are now design-build in a continuing shift. As a result, contractors are taking on more professional liability (“PL”) risk than ever before, and the risk management landscape is changing. There are unique challenges to managing PL risks and claims. Specifically, PL… Continue reading Dynamics of Managing Professional Liability Claims for Design Builders
Tag: Professional Liability Policies
“Tail Coverage” – Understanding The Extended Reporting Period
Pamela G. Michiels | Phelps Dunbar Professional liability policies, almost always written on a claims-made basis, typically contain a number of options for the insured to obtain an Extended Reporting Period (ERP). What does that mean? And why might it be necessary, or at least a good idea? While many variations on the ERP exist, the… Continue reading “Tail Coverage” – Understanding The Extended Reporting Period
The Retroactive Date – When Timing is Everything
Mary Frances Lindquist Rasamond | Phelps Dunbar Most architects, engineers and contractors’ professional liability policies are written on a claims-made basis, requiring a claim to be first made against the insured and reported to the insurer during the policy period. Claims-made policies typically contain a retroactive date limitation, which must be satisfied for the policy… Continue reading The Retroactive Date – When Timing is Everything
Who (Else) is Covered Under Your Professional Liability Policy?
Sarah Nau | Phelps Dunbar When does a Professional Liability policy cover individuals that work for an insured, an insured’s related entities (such as subsidiaries), and/or the insured’s contracting partners? Individuals working for an insured and an insured’s related entities are not always automatically covered, meaning review of the policy’s Declarations and/or definition of “insured”… Continue reading Who (Else) is Covered Under Your Professional Liability Policy?
Seventh Circuit Holds “Breach of Contract” Exclusion in Professional Liability Policy Renders Coverage Illusory
Jason Taylor | Traub Lieberman Straus & Shrewsberry | October 2, 2019 Most professional liability policies include a “breach of contract” exclusion precluding coverage for claims or damages arising out of breach of contract. How to apply such broad exclusions to claims brought by clients of the insured (or others with whom the insured has… Continue reading Seventh Circuit Holds “Breach of Contract” Exclusion in Professional Liability Policy Renders Coverage Illusory