It is necessary that insurance coverage be in place for architects’ and engineers’ professional liability. In most cases, the firms that these individuals work for will have sufficient coverage in place to protect them in the even that engineers and architects face a lawsuit. However, it may be advantageous for individuals to carry their own individual coverage in particular cases.
When Might an Individual Architect or Engineer Need Personal Professional Liability Coverage?
There are several scenarios in which an individual may want to purchase professional liability coverage:
- When a firm employing the engineer or architect goes out of business.
- When a firm stops carrying architects’ and engineers’ professional liability insurance for its employees.
In both these cases, individuals should consider purchasing their own coverage. Even if a firm is no longer in business for whatever reason, a client can still file suit against an individual architect or engineer. Because the firm that once employed the individual is no longer in business, coverage is no longer in place, and it is possible that the particular architect or engineer could face exposure.
Additionally, a retired engineer or architect should consider architects’ and engineers’ professional liability coverage if the firm they once worked for is no longer in business. Although retired, these individuals can still face lawsuits for work performed in the past.