“Solid practice management, including the effective use of contracts and risk management strategies, can make all the difference in an architectural or engineering firm’s survival and success, especially in this economy,” said Alex Blanco, Chief Underwriting Officer of XL Insurance’s Design Professional group. The Design Professional group offers a comprehensive professional liability risk management program for architects and engineers including insurance, dispute resolution services, and loss prevention education programs.
“A thorough understanding of the issues and trends in contracts, claims and practice management is critical in preserving strong business results,” noted Mr. Blanco. “The Contract Guide is a valuable resource that helps our clients navigate the business issues that seem to grow more complex everyday.”
XL Insurance’s Contract Guide covers more than 100 topics of issue-driven discussions, claims scenarios, problem-solving strategies and contract language solutions and offers considerable management guidance on topics ranging from financial management to hiring and training project managers.
“Nothing remains static and our updated Contract Guide continues to evolve as a vital practice management tool for our clients, expanding as the A/E industry’s issues change,” said Randy Lewis, XL Insurance’s Vice President of Loss Prevention and Client Education. “The latest edition introduces three new chapters focused on contract considerations related to Public Contracts, Integrated Project Delivery, and Construction Observation without Design.”
“More than 25 design professionals, insurance experts, claims managers and attorneys contributed their knowledge and experience in developing the Contract Guide,” said Mr. Lewis. “Last published as a 500+ page book in 2007, the new online version is completely searchable. Each individual firm insured by XL Insurance receives access to the Contract Guide and can grant individual employee access to aid in their contract risk management efforts.”
While online access to the Contract Guide is provided only to XL Insurance companies’ policyholders, any design professional can read the introductory section of the Contract Guide online. The first nine chapters, or Primer, can be viewed at http://www.xldp.com/. The Primer provides a high-level summary of contract concepts such as “Dealing with Risk” and “Negotiating a Contract”.
About XL Insurance
"XL Insurance" is the global brand used by member insurers of the XL Capital Ltd (NYSE: XL) group of companies. More information about XL Insurance is available at www.xlinsurance.com. XL Capital Ltd, through its subsidiaries, is a global insurance and reinsurance company providing property, casualty and specialty products to industrial, commercial and professional firms, insurance companies and other enterprises on a worldwide basis. More information about XL Capital Ltd is available at www.xlgroup.com