Risk Specialty Group captures 4th Best Practices Agency Award
Houston, TX September 22, 2022 – Risk Specialty Group retains its Best Practices status for the fourth consecutive year, once again becoming a part of an elite group of independent insurance agencies around the United States. This status comes by participating in the...
A Complete Guide to Architect Professional Liability Insurance
Are you one of the 126,700 architects practicing in the United States? If so, the importance of having architect professional liability insurance cannot be overstated. Without it, you could be left exposed to lawsuits that could be catastrophic for your practice....
What You Need to Know About Professional Liability Insurance in 2022
Have you ever dealt with a client who seemed friendly enough at first but then turned on you at the last minute? Maybe they claimed you cut corners or made a mistake. Or perhaps your work only caused more trouble for them. In most cases, your company is never to...
Risk Specialty Group awarded Best Practices Agency for Third Year
Houston, TX September 22, 2021 – Risk Specialty Group retains its Best Practices status for the third consecutive year, once again becoming a part of an elite group of independent insurance agencies around the United States. This status comes by participating in the...
Risk Specialty Group Has Retained Its Best Practices Agency Status For 2020
Houston, TX August 31, 2020 – Risk Specialty Group retains its Best Practices status, once again becoming a part of an elite group of independent insurance agencies around the United States. This status comes by participating in the Independent Insurance Agents &...
Risk Specialty Group chosen as Best Practices Agency
HOUSTON, TX, September 18th, 2019 – The Risk Specialty Group, LLC has been selected to be part of an elite group of independent insurance agencies around the United States participating in the Independent Insurance Agents & Brokers of America (IIABA or the Big...
How do I insure my Drone?
Q: I use my Drone for my business, is it insured under my current General Liability Policy or do I need to purchase a separate Drone Liability Policy? A: Your General Liability coverage usually includes an exclusion that prohibits aviation coverage. In many cases,...
Should I sign a Letter of Reliance?
Q: My client mentioned that their lender will request to have a separate agreement signed, in addition to my professional services contract. Is this typical, or does this signal additional risk? A: Your client’s lender is not generally the intended recipient of your...
What type of information is not considered confidential/proprietary?
Q: When the contract requires protection of confidential/proprietary information, what information may not fall into that category? A: Keeping in mind that this is not an all-inclusive list, following are some examples of information that may not be truly...
Should I waive the consequential damages provision?
Q: Why should I ask my client to waive consequential damages, as suggested in some of the standard industry documents? A: Deleting a provision that waives consequential or special damages increases your risk, perhaps substantially. The mutual waiver A201-1997 General...
How should I resolve a dispute?
Q: Is litigation, arbitration, or mediation a more favored method of resolving a dispute? A: There are many variables to consider when determining which resolution method is best for your firm, and even for a particular project. Find a knowledgeable...
Should I specify when my client pays for completion of services?
Q: Is it critical to specify when the client should pay for completion of services? A: Keep in mind that claims related to nonpayment are typically uninsurable. Therefore, be wary of “pay when paid” and “pay if paid” terms when agreeing to a contract. It‘s...
Should I name third-party beneficiaries?
Q: Does my risk increase if I name third-party beneficiaries in my contract? A: Naming third-parties as beneficiaries in your contract may allow those parties the right to bring claims directly against you. Since those parties might not otherwise have that right, by...
Who owns my project documents?
Q: Does my client own my project documents? A: It depends on your contract language. A license to use your documents is often intended only when you’ve been paid in full for your services. Also, some clients don’t understand that documents are...
Does indemnification leave me exposed?
Q: The indemnification section of my contract places the majority of responsibility on me. How can I manage this exposure? A: Your Be wary of references to damages or obligations beyond those that are proximately caused by the negligent rendering of your...