Designing any building, whether it is a new or renovated facility, can be a difficult and challenging undertaking, especially with strict deadlines and numerous requirements. Despite your best efforts to be detailed and to include all required aspects of the drawing, any talented professional may still make mistakes. No architect or engineer in the business can guarantee their work will be perfect and free of any errors.
Architects, engineers, builders, professional employees, and the project manager all need to communicate what is needed, what is required, how it is to be accomplished, and the when and where details. These conversations need to be in detail and often in order to reduce the amount of Errors and Omissions made on a project. You also have to be realistic in understanding that even with doing your due diligence, an error or omission will occur on every project. It is just the nature of this complex industry. Many different people all working on one project may have different ideas, methods and attitudes about how a process should be done. Explaining these in detail to one another are not always feasible or possible. The more complex the program or drawing, the more likely you will incur mistakes. It’s unfortunate, but it’s that simple. Many mistakes are due to improper instruction, or even the lack of instruction. Changes occur all the time as the designing and building process unfolds. An omission will occur when something required to complete the building, or comply with the many building codes, is not shown on the plans and/or in the specifications. This will cause a delay in the drafting, as the revision must occur…again and again.
A common question is “Who pays for these unavoidable design errors and omissions?” The answer is not as simple as you may think. It seems that everyone associated with the project will incur a loss every time an error is detected and resolved. The Project Manager must pay the Architect for their time to redo the drawing. The owner and Engineer pays in the lost of their time. Customers cannot understand why they have to pay time and time again for each change, inclusion, deletion, and revision. The Owner may think that the person responsible for making that mistake should also be responsible for paying for the mistake. Unfortunately, it doesn't seem to work that way in reality in this industry. The industry of Architects and Engineers does not have a Money Back Total Satisfaction Guaranteed program or policy.
ACE Financial offers Architects and Design Professionals a low cost way to protect themselves from most Errors and Omissions. Simply purchase one of our customizable E&O Policies, and you can rest easy when you accept your next design project. ACE understands that “Accidents Happen” in every project. We want you to know that we will be there right beside you as you work to produce your best product for your customers. Our friendly Customer Service staff is always just a toll free call away to answer your questions, or just to chat. They can assist you in getting a quick quote and filling out your application. They can even take your premium payment over the phone if you like. ACE Financial Group Limited’s E&O Policy can provide the confidence an Architect or Design Professional needs.
Errors and Omissions Insurance Policies are also riddled with many limitations, exclusions, riders, rate-ups and limits, written in a legalize boilerplate format in order to shield the insurance company from ever paying out in a claim. As the business owner, you need to be very savvy against their manipulation by considering an alternative to their insurance policy games.
Therefore, ACE Financial does not offer an insurance product, but a very effective alternative to insurance by using a risk-sharing group of like-minded industry professionals. We protect our own family by grouping together these low-risk professionals in a policy that is designed and customized to protect them in an honest, practical, cost saving manner. This allows ACE Financial to offer one of the lowest rates in the industry. This risk-sharing method has legally and effectively been used for hundreds of years successfully with farmers, churches, many other professions and governmental agencies.
At ACE Financial, we offer errors and omissions coverage tailored to your specific needs and budget. We understand the unique risks and challenges that you face as a professional in your occupation. We can help you find the best policy that suits your personal and professional needs. We can also provide you with a certificate of liability coverage that you can use to prove your coverage to your clients or partners.
Don't let an unexpected claim or lawsuit ruin your business. Contact us today to get a free quote and learn more about our errors and omissions coverage options. We are here to help you protect your business with confidence and peace of mind.
For personalized advice, to explore the best coverage options for your business, and to get a low rate quote, reach out to our expert customer service advisors today.
For specific insurance details, terms, and conditions, please consult with a licensed insurance professional. The information provided here is for informational purposes only and does not constitute legal or financial advice.