Beazley Group, an underwriter of professional liability, management liability and commercial property exposures, has enhanced its professional liability insurance offering for architects and engineers.
According to company, the enhancements of the offering includes privacy liability coverage and coverage for a number of costs associated with regulatory, administrative and disciplinary proceedings; peer reviews; and reputation management and lost productivity necessitated by a claim.
The company said the new enhanced A&E professional liability policy covers legal liability and defense costs, increased reimbursement for regulatory or administrative actions, and increased disciplinary proceedings reimbursement due to failure to carry out professional services.
In addition, the enhanced policy also covers public relations expert fees to help manage adverse media attention arising from a claim; third-party peer reviews to improve risk management practices, and increased reimbursement for billable time lost to defend a claim in court.
Jerry Sullivan, specialty lines A&E global product leader at Beazley, said: “The difficult economy has put intense pressure on design firms. They are at greater risk of privacy liability claims both from former employees breaching client confidentiality agreements, and stretched-thin staffers inadvertently putting private information at risk.”