On May 8, Ulmer attorneys and executives from Oswald Companies hosted a discussion on professional liability risk management strategies for architects, engineers, and others in the design and construction industry.
Attendees learned how to minimize the risk of liability exposure by utilizing the “Ten Commandments” of professional liability, supported by claims research and actual cases that highlight the interrelationship between technical and non-technical factors that contribute to a designer’s risk exposure.
The presentation also included insightful discussion of:
- How effective contracting, communication, and collaboration is inversely proportional to an increase in professional liability claims, and how that impacts the health, safety, and welfare of the public
- How to structure your involvement in a project to reach overall project objectives while minimizing your professional liability risk
- How professional responsibility includes seeking new business ethically and responsibly, which involves knowledge of various construction industry contracts and project delivery methods, all of which aids in contract negotiations
- How to protect the financial viability of firms’ owners, directors, officers, and managers, both personally and professionally, by understanding the importance of directors and officers insurance and risk management