Berkley Design Professional (Berkley DP), a division of Berkley Alliance Managers, a Berkley Company, has enhanced its coverage for the architects & engineers professional liability segment with a new “Per Project Primary Limits” coverage for design firm customers. This new limit structure provides a dedicated limit for every project a design firm has worked on after the retroactive date stated in the firm’s professional liability insurance policy, even if the policy aggregate limit is exhausted.
According to Lawrence G. Moonan, executive vice president and chief operating officer of Berkley DP, the coverage offerse a separate limit for all of a firm’s projects, and claims do not erode the policy aggregate limit unless the per project limit is exceeded. In addition, if a policy limits claim does occur, a design firm still has the per project primary limit available for the remainder of the policy period.
Berkley DP’s new per project primary limits coverage is especially designed to insulate the total available limit from erosion as long as claims related to that project don’t exceed the per project primary layer. This includes ensuring the per project primary limit is available to cover all other projects during the duration of the policy; even if a lightning strike claim occurs.
Berkley Design Professional specializes in professional liability products and services for the design professional industry. Berkley Design Professional is a division of Berkley Alliance Managers, a Berkley Company, which is a member company of W. R. Berkley Corporation.
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