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Architects and Engineers 2020 Policy Changes Enhanced Rectification Applicability Victor and CNA Professional Liability Program 2020 Policy Changes TABLE OF CONTENTS Overview 1 Expansion of the Term Insured 2 Enhanced Rectification Applicability 3 Aggregated Defense Outside of the Limits 4 Update to Faulty Workmanship Exclusion 5 Carve-back to Transportation Exclusion 6 Most Favorable Jurisdiction 7 Subrogation Waiver Expanded 8 Liberalization of Current Policy Coverages 9 Overview 2020 Policy Changes • more effective responses to project proposals that require additional staffing; For more than 60 years, the Victor and CNA professional liability program has maintained a solid and stable base • maximum flexibility in acquiring the best talent; and policy while introducing innovative expansions of coverage. • assistance with management of colleague costs and As the design and construction industry has evolved, so benefits. has our policy. In addition, this new expansion of coverage can help you Significant changes to the 2020 version of the policy with: include: • transformational projects, such as when you have an • expansion of the term insured; expansive project that requires specific or functional • enhanced rectification applicability; areas of needed specialization; • availability of aggregated defense outside the limits; • overburdened deadlines, such as when you bring on workers to handle the rush of a particularly difficult • update to the faulty workmanship exclusion; project; and • carve-back to the transportation exclusion; • special connections, such as when you hire individuals • inclusion of most favorable jurisdiction; due to their relationships or connections with a specific project or owner. • expansion of the subrogation waiver; and At Victor and CNA, we strive to be active partners in • liberalization of current policy coverages. helping to grow your professional practice, and the design At its base, the professional liability policy provides and construction industry as a whole. Our mission is coverage for current and former employees of your firm to consistently create superior products and to provide who in the scope of their duties perform professional outstanding service and exceptional value to each and services for the firm. Recent expansions of coverage, for every policyholder. Our goal is to be recognized as an elite examples, include allowing you to hire a retired partner specialty insurance provider and distributor and grow as a consultant for a specific client or project, or providing through valued service, innovation, and expertise. coverage for any leased personnel. These expansions enable you to staff your practice and projects with the personnel best suited for the job. We have expanded the definition of the term insured in a DOWNLOAD THE NEW POLICY significant way, highlighting our commitment to serving Download a copy of the new 2020 policy. A brief highlight the needs of the changing A&E marketplace. A simple sheet is also available. change like expanding the term “insured” gives you: Victor • 1 Expansion of the Term Insured Insured means, “any person who is or becomes a leased or contracted personnel under the direct control and supervision of the Named Insured or newly acquired subsidiary during the policy period, but only while acting within the scope of their duties for the Named Insured or newly acquired subsidiary.” Introduction Why did we change it? The professional liability policy provides coverage for In the past, you employed on-site staff as full-time current and former employees of your firm who in the employees undertook design projects. Developments scope of their duties perform professional services for in digital technology increasingly allow you to expand the firm. The policy also provides coverage for the firm the use of individually contracted labor on a project- entity as well as the current and former owners who by-project basis. This gives you the flexibility to use the have responsibility for the firm. We have now expanded best resources for each project and does not necessarily the definition of the term “insured” in a significant way, bind you to using employees for project execution. One highlighting our commitment to serving the needs of the of the major impediments to this evolving need was that changing A&E marketplace. either contracted personnel had to procure their own insurance policies or you had to work with your broker and What is the change? underwriter to have the contracted personnel added as a named insured. We made this change to serve your needs The CNA professional liability policy now provides coverage to use contracted personnel on a project basis and reduce for contracted personnel under the direct control and the administrative time and cost of onboarding contracted supervision of the insured firm for the scope of duties personnel for your projects. the contracted personnel complete on behalf of the firm. The contracted personnel have to be engaged in their How does it benefit my practice? individual capacity; be aware that the coverage expands to those personnel whose income is reported on a 1099 form This change offers peace of mind. You can engage for federal income tax purposes. The policy only provides subconsultants knowing that your professional liability coverage for the contracted personnel if they do not have policy provides coverage for contracted personnel. From professional liability coverage of their own. If they already a risk management perspective, it still makes sense to have professional liability coverage, your CNA policy will engage competent, experienced personnel. If, however, the provide excess coverage if the contracted personnel policy subconsultants do not have professional liability coverage limits are exhausted. of their own, you can still select them knowing that the CNA policy includes contracted individuals in the definition of insured. 2 • Architects and Engineers 2020 Policy Changes Enhanced Rectification Applicability “Rectification expense means reasonable and necessary fees, costs and expenses incurred by the Named Insured for rectification of a design defect caused by professional services in any part of the construction works or engineering works for any project upon which the Insured is responsible for design. Rectification expense does not include: overhead, mark-up, profit or any fee, charge, cost or expense incurred by any Insured for materials supplied or services performed by any Insured.” Introduction Why did we change it? Rectification coverage enables you to take the lead on When a problem happens during construction using design-build projects while supporting early resolution traditional design-bid-build, there is often a claim from of design problems on all projects by limiting the risk the project owner against the design team. In some cases, that a design error will lead to a major financial loss. the construction entity that discovers the problem brings a The coverage extends to any design defect caused by contractual claim for delays and extras against the project professional services on any construction project. With owner, who then involves the design firm in the claim’s the new policy, you do not have to be responsible for resolution. About 33% of claims against design firms occur construction. Whether you are performing design services before a project is substantially complete. If technical for a project client directly or a design-build entity as a design errors are identified early, they are usually resolved subcontractor, the policy expedites the early resolution of a quickly and often at a minimal cost of time and money. design problem. The rational solution is one that enables you to take the lead on a design-build project and minimize the risk to What is the change? your firm, the project owner, and the public: a mitigation of The new policy expands rectification coverage by setting loss coverage called rectification. up a system for the early involvement of a CNA claims specialist when you discovers a design deficiency while How does it benefit my practice? providing design services. Some of the features of the The expanded rectification provision equips you rectification coverage are the following: with another tool to increase your control over your • provides mitigation of loss payments for design defects professional liability exposure in providing design services that could result in a claim; on all projects, including those where you take the leadership position on a design-build project. You can cite • covers reasonable and necessary fees, costs, and expenses incurred by you because of a design defect the expanded coverage when educating clients on your caused by professional services in any part of the ability to provide a timely and responsive project. construction or engineering works for any project upon which you are responsible for design; • covers design services, but not actual or alleged negligence in the review of shop drawings, issuance of change orders, observation of construction, or review of pay applications because those allegations would be subject to normal negligence coverage of the policy; and • is subject to the deductible obligation and excludes overhead, mark-up, profit or any fee, and charges, costs or expenses incurred by you for materials supplied or services performed. Victor • 3 Aggregated Defense Outside of the Limits Provides a separate claims expense limit for firms up to $1,000,000 in annual billings. Introduction In addition to your attorney, professional liability claims require an expert to provide a professional opinion about All insurance policies have per-claim and aggregate limits the nature of your services to defend against allegations that are the absolute maximum the insurance policy will of your negligence. This is costly, and often puts pressure pay out on your behalf. Because professional liability on your firm to ensure that funds are available to settle the insurance claims can be difficult to resolve through claim within available policy limits before defense costs litigation, the costs of defending you are usually included deplete those funds. For smaller firms, the reserves within within the policy limits. the firm may be inadequate to continue the defense if they reach their per-claim limit.
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