Business Insurance and Risk Management for Design Professionals

ISNetworld is a 3rd party that manages the relationship between hiring clients (Owner/Clients) and contractors. There are other 3rd party contractor management companies similar to ISNetworld, such as PICS® and Veriforce® to name a few. Owner/Clients outsource the management of certificates, contracts and safety compliance to these 3rd party service providers.

While these services benefit the Owner/Client, they can make it very frustrating for the contractors and sub-consultants to get preapproved for work and maintain their compliant status. The Risk Specialty Group can help you manage this complex process so that you can save time and stay compliant. We understand that you cannot start a job or get paid unless you are compliant. If you would like to learn more about how we can help you with 3rd party contractor management companies, feel free to contact us today.

Email or call us with your certificate request and we will respond back to you within the hour. We understand that there are times you cannot start a project or get paid unless you show proof of insurance. That is why we respond same-day, often within the hour, on certificate requests.

You can also forward a copy of the contract requiring proof of insurance so we can review the requested coverages against the coverages you currently carry. Many times, the insurance requirements ask for additional language verifying “additional insured” status, waivers of subrogation, cancellation notices, primary/non-contributory and other specifications. They can even require copies of these endorsements from the actual policies themselves be shown along with the certificate of insurance. Depending on the policies you carry, this can be an issue and it is for this reason that we do not have an online portal for you to generate your own certificates.

The best way to report a General Liability, Property, Auto or Workers’ Compensation claim is to contact the carrier directly. This will ensure quick set-up of the claim file and that all pertinent information is communicated to the claims department. We also ask that you contact us, as well, so that we can help you during the claims process. Here is a short list of Carriers and phone #’s to their Commercial Claims Departments:

C.N.A. – 877-262-2727

Hartford – 800-327-3636

Travelers – 800-238-6225

RLI Insurance Co. – 877-863-5095

If you have a Professional Liability, Cyber, D&O, EPLI, Crime or any other type claim, please contact us first so that we can discuss the matter with you and point you in the right direction. There are too many carriers that we represent to create a shortlist on this reference page and there are nuances to reporting a claim in these type situations. If you have been served with a lawsuit or demand letter, forward it to us immediately. Do not wait to report a potential circumstance or an actual lawsuit.

Many of the carriers we represent provide free Pre-Claims Assistance in matters that are not quite full claims but have the potential to develop into a claim. We would need to report this in a matter that notifies the carrier of the circumstance but is not reporting as a full claim.

Please contact us today if you are aware of a claim situation or circumstance that could result in a claim.

After you have reported the claim to us, it is usually good industry practice to:

Not discuss the matter with anyone other than staff, agent and insurer, unless instructed by your carrier. Information or documents you provide to others may build the case of these parties against you.
Not admit liability to anyone. Your liability in a claim is between you and your carrier.
Not attend a deposition without the guidance of legal counsel. If you have a question regarding legal counsel prior to or after alerting your carrier, please contact us.

Insurance for small businesses with low-risk profiles can typically cost:

$500 to $750 for General Liability
$1,500 and $2,500 per Auto depending on Yr, Make & Model
Between $450 and $1,000 depending on Payroll for Workers’ Compensation
However, there can be risk exposures within your particular business that can drive-up these costs. Or, create the need for additional insurance coverages, such as Professional Liability (E&O) for architects, engineers, surveyors, environmental consultants, construction managers, etc.

Professional Liability (E&O) can cost anywhere from $700 per year to 5% of your Gross Revenues depending on what type of Professional Liability policy you want and the Services you provide.
C.N.A. – 877-262-2727

Hartford – 800-327-3636

Travelers – 800-238-6225

RLI Insurance Co. – 877-863-5095

If you have a Professional Liability, Cyber, D&O, EPLI, Crime or any other type claim, please contact us first so that we can discuss the matter with you and point you in the right direction. There are too many carriers that we represent to create a shortlist on this reference page and there are nuances to reporting a claim in these type situations. If you have been served with a lawsuit or demand letter, forward it to us immediately. Do not wait to report a potential circumstance or an actual lawsuit.

Many of the carriers we represent provide free Pre-Claims Assistance in matters that are not quite full claims but have the potential to develop into a claim. We would need to report this in a matter that notifies the carrier of the circumstance but is not reporting as a full claim.

Please contact us today if you are aware of a claim situation or circumstance that could result in a claim.

After you have reported the claim to us, it is usually good industry practice to:

Not discuss the matter with anyone other than staff, agent and insurer, unless instructed by your carrier. Information or documents you provide to others may build the case of these parties against you.
Not admit liability to anyone. Your liability in a claim is between you and your carrier.
Not attend a deposition without the guidance of legal counsel. If you have a question regarding legal counsel prior to or after alerting your carrier, please contact us.

Most small businesses can get away with carrying the following insurance:

Business Owners Policy, which includes:
General Liability
Property (computers, furniture, software, etc.)
Hired/non-Owned Auto
Workers’ Compensation
Depending on the type of business you’re in and the number of employees, small businesses may also need to consider:

Professional Liability (E&O)
Cyber Liability & Network Security
Umbrella (for higher limits over the GL, Auto & WC)
ERISA Bond
Employment Practices Liability
Fiduciary Liability
3rd Party Crime
We would recommend talking with one of our Risk Managers to obtain a free Risk Assessment based on your particular industry and firm profile. To talk with one of our Risk Managers, Contact Us now

There are many types of business insurance policies and the importance of each type depends on your particular industry and firm profile.  Here are some of the more common types of business insurance:

• General Liability
• Property
• Auto
• Workers’ Compensation
• Umbrella
• Professional Liability (E&O)
• Cyber Liability & Network Security
• Drone Liability
• Directors & Officers (D&O)
• Fiduciary Liability
• Crime
• Employment Practices Liability (EPL)
• Foreign Liability including Kidnap & Ransom
• Bonds / Surety
• Pollution Liability
• Products Liability