Lesson 03_Developing The Practice

Question 1

Professional Liability Insurance (Malpractice Insurance / Errors and Omission (EandO) Insurance

Answer 1

Protects the architect in case some action by the architect causes bodily injury, property damage, or other damage. Cover problems related to incorrect specification, mistakes on drawings, and negligence.

Question 2

General Liability Insurance

Answer 2

Protects the architect against claims or property damage, liability, and personal injury caused by the architect, firm employees, consultants, or other people hired by the architect.

Question 3

Statutes of Limitations

Answer 3

establishes the time period within which a legal action must be filed, starting from the date that a defect in the project was discovered or that an injury occurs.

Question 4

Statues of Repose

Answer 4

bases the beginning of this time period on the buildings certificate of occupancy or the completion date of construction.

Question 5

Agency

Answer 5

Is when a person or entity represents someone else and acts on that persons behalf.