As part of our ongoing efforts to share risk education information and our claims experience with architects, we’re introducing a new series that aims to provide a crisp, clear and numbers-driven claim situation.
A Claim in Four Figures provides a brief summary of the claim, highlighting four key figures: the claim amount against the architect, the cost to defend the claim, damages, and the firm’s premium.
It’s an at-a-glance view of a claim against an architect, that highlights the value of professional liability insurance.
This Claim in Four Figures is about a Square Footage Error.
To download this document, please click on the three ellipses above and select “Download PDF File”.
Questions for Consideration
Thinking about the Square Footage Error scenario, ask yourself the following:
- What quality assurance steps do I take in my practice to reduce errors?
- Has my firm been in a similar situation? How was it resolved?
- How else might an architect mitigate this risk, or others like this?
- Imagine your firm was named in the claim mentioned above, and that there was one other, or two additional claims against your firm of a similar monetary nature. Would your firm be able to absorb such losses without professional liability insurance?
- Does my firm know what to do in the event of a claim?
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