Victor O. Schinnerer is introducing a new professional liability
program for graphic designers.
The policy offers broad coverage for errors and omissions made in the course of performing professional services. Coverage protects designers against lawsuits for breach of duty, negligence, design errors and inaccurate advice.
Since graphic designers often carry general liability coverage as required by their landlords, they may reportedly believe that they have met all of their insurance needs. However, they reportedly face potential exposures that a general liability policy does not cover.
“General liability policies provide coverage for bodily injury and property damage. However, damages as a result of economic loss when a project is not completed on time or is not completed to the satisfaction of the client are not covered under general liability policies. These types of exposures would best be covered in a separate errors and omissions policy,” explained Marie Bernier, vice president at Victor O. Schinnerer.
Professional liability coverage can be extremely important for many small businesses, she emphasized. They are particularly vulnerable to losing their assets reportedly as a result of defense costs or large damage awards.
“Whether a lawsuit is valid or not, it still costs a firm time and money to defend itself,” said Bernier.
Schinnerer’s graphic design program is written on a claims-made basis.
The program is admitted in most states and underwritten by one of the CNA companies.
More information on the program can be found at
www.PlanetAEC.com.
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