Practicing ArchitecturePracticing Architecture
Insure Your Firm’s Future: the AIA Trust Professional Liability Database
The AIA Trust has made a new resource available to AIA members, detailing everything you need to know about risk management and professional liability
The AIA Trust Professional Liability Database is a searchable directory of professional liability insurers that gives AIA member architects critical information about one of the most important purchasing decisions they will make for themselves and their firms. This tool is designed to be simple to use and to deliver vital information quickly and easily.
The database allows users to browse through professional liability insurance providers, find specific providers, and gather filtered search results based on specified criteria. The database also includes an option to compare up to three insurers by simply clicking the box beside each insurer and then clicking the “Compare” button at the top of the page. The information on the database enables members to contact insurers directly for more information or to simply visit their websites.
Members will also be able to clarify the sometimes baffling terminology of the insurance world. Some words on the search page are highlighted; place the cursor over these words to access a pop-up containing a clarification of the term as used in the form. In addition, there is a glossary for reference.
The database also contains several articles with tips on selecting insurance and a broker, including necessary considerations and alternatives for business and professional liability insurance. Another article focuses on the results of a 2011 study identifying important factors for assessing potential risks and providing key factors to consider when applying for professional liability insurance. Because underwriters and actuaries look at numerous criteria to assess potential risk—including firm size, billings, location, clients, services, and projects—understanding these factors can help architects put their firm in the best light when applying for insurance.