Clients of architecture, engineering, and survey firms might enter a business relationship with unique expectations. These types of businesses offer certain types of services at a quality level that can require particular insurance to protect the assets and reputation of the firm. Consider an insurance company with professional liability insurance for both sole proprietors and large firms.
A professional liability insurance policy is a wise purchase due to the nature of potential liabilities and financial risks with architectural, engineering, and survey work. These firms bring with them an elevated risk of litigation because of certain factors. For example, contractual requirements can be broad, design technologies are constantly developing and changing, and sustainability efforts are on-going. These items are often in flux and clients are likely to have expectations for what they will receive in relation to these services.
Look for an insurance company with professional liability insurance that is uniquely designed for architecture, engineering, and survey firms. There can be lawsuits raised by clients who claim financial discrepancies related to not receiving certain services. A reliable policy will cover costs related to the lawsuit, protect your firm’s reputation, and help you to keep financial stability. Your assets are part of what makes your business what it is, so consider the assistance of an insurance company that will help you to maintain the integrity and stability of your firm.