Events

What is the Problem with Agreeing to Liquidated Damages?

What is the Problem with Agreeing to Liquidated Damages?

It is commonplace for a liquidated damages clause to be contained in an Owner/Contractor agreement.  This makes sense because the completion date is generally significant to an owner, and the contractor has submitted a price for their work and has agreed in their contract to a completion date.   By the time the contractor is awarded the contract, they usually have the contract documents, and they have used them to price the job and complete a construction schedule.  Once a notice to proceed is issued to the contractor, the contractor controls the schedule… Read More

Cyber Exposure: Smishing Explained

Cyber Exposure: Smishing Explained

Most businesses and individuals are familiar with phishing, a cyberattack technique that entails cybercriminals leveraging fraudulent emails to manipulate recipients into sharing sensitive information, clicking malicious links or opening harmful attachments. While these email-based scams remain a pressing concern, a new form of phishing—known as smishing—has emerged over the years, creating additional cyber exposures for businesses and individuals alike.

AMES & GOUGH TO OFFER EMPLOYEE BENEFITS SERVICES FOR SMALL AND MID-SIZED EMPLOYERS

AMES & GOUGH TO OFFER EMPLOYEE BENEFITS SERVICES FOR SMALL AND MID-SIZED EMPLOYERS

WASHINGTON, DC, January 10, 2022 – Ames & Gough, a leading insurance broker and risk management consultant specializing in serving design professionals, law firms, associations/nonprofits and other professional service organizations, today announced it will now offer employee benefits services in addition to its professional liability, property/casualty and risk management capabilities. The firm appointed Justin Gough as vice president to lead the new initiative.

Avoiding Coverage Issues When Admitting Responsibility

Avoiding Coverage Issues When Admitting Responsibility

Here’s the scenario: An issue arises during construction that originates from a design problem, and as a result, there will be an associated change order by the contractor. Although this situation has not given rise to a formal claim, the firm believes the costs associated with the change order are likely to be well within the standard of care or the professional liability deductible.

What Does a Reservation of Rights Mean?

What Does a Reservation of Rights Mean?

Here’s the scenario: a problem arises on a project, either a claim or pre-claim that prompts you to report the matter to your professional liability carrier. Within the first couple of weeks following the notice, you’re likely to receive a very ominous letter that tells you all the things that your professional liability policy may not cover.

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