Architects and engineers are responsible for the amazing structures we get to enjoy on a day-to-day basis. They are also responsible for failures of these structures, and in some cases, the injuries that occur when these failures happen. Luckily for them, there are insurance company professional liability policies that they can take advantage of in order to protect them.
Professional liability insurance is designed to cover a multitude of things when it comes to architects and engineers. Some of these coverages include: professional negligence, property damage, structural defects, joint venture coverage, and coverage for independent contractors. All of these things help to cover damages and law suits that may occur due to the mistakes that are made by these types of industries.
Without insurance company professional liability coverage, when these types of things occur, it can sink an architectural or engineering firm, as well as financially harm those who were responsible for certain parts of the job. By having a policy in place, it can severely mitigate the risk of these firms and allow them to focus on the things that they love, which is to design beautiful structures for people to enjoy. If you are an architect or engineer, make sure your firm has the adequate coverage in order to protect you from the catastrophes or misfortunes that happen in business.