Insurance

Question 1

Professional Liability Insurance

Answer 1

• Errors and ommissions insuranceprotects architects in case one of their actions causes damage/injury to person or property
• Covers problems from incorrect specs, drawing mistakes, and negligence.
• Excludes intentional wrongful acts, claims for estimates being exceeded, and claims from expiring warranties
  ! Required by B101 Contract

Question 2

General Liability Insurance

Answer 2

• Includes range of insurance that protects against claims of property damage, liability, and personal injury caused by architects or their employees, consultants, or others hired by architects
  ! Required by B101 Contract

Question 3

Property Insurance

Answer 3

• Protects the architect’s buildings and buiding contents against disasters such as fire, flood, and theft
• Basic Form names certain perils that are covered under the property insurance policy. Perils like; fire, smoke, lightning, explosion, vandalism, sprinkler leakage, riot, aircraft, vehicles, windstorm and hail, volcanic eruption, and sinkholes

Question 4

Automobile Insurance

Answer 4

• Covers liability and property damage to vehicles owned and used by the business
  ! Required by B101 Contract

Question 5

Worker’s Compensation

Answer 5

• Mandatory in all states, protects employees in the event of injury caused by work-related activities
  ! Required by B101 Contract

Question 6

Personal Injury Protection

Answer 6

• Protects architects against charges of slander, libel, defamation of character, misrepresentation and other torts

Question 7

Owner’s Insurance (Required by A201)

Answer 7

Liability Insurance, Property Insurance for full insurable value of work that protects against loss from fire, theft, vandalism, collapse, earthquake, flood, windstorm, and malicious mischief. The policy must be all risk rather than specified peril.

Question 8

Contractor’s Insurance (Required by A201)

Answer 8

Worker’s Compensation, damages because of injury, sickness or death of employee, and for non-employee, Personal Injury Protection for slander/libel/defamation, damages related to motor vehicle, bodily injury after job is complete, and Contractual Liability Insurance.