Tailored coverage for:
ARCHITECTS AND
ENGINEERS PROS
PROPRIETARY & CONFIDENTIAL
.
©Hiscox Inc. 2016. All rights reserved.
©Hiscox Inc. 2016. All rights reserved.
Benefits
Why use Hiscox NOW?
• Broad appetite: same-day coverage for over 100 professions, including A&E
• Start-up friendly: we insure brand new businesses
• Competitive premiums: tailored policies start from $22.50/mo.
• Fast and simple: online application, no Hiscox appointment needed
• Instant binding: quote and BIND in minutes, policy docs emailed immediately
• Extremely convenient: Hiscox handles all servicing and billing
• Service support: team available Mon - Fri from 8am to 10pm ET
• Automatic renewal: earn commission for the lifetime of coverage
• ‘A’ rated: Hiscox Insurance Company Inc. is ‘A’ rated (Excellent) by A.M. Best
©Hiscox Inc. 2016. All rights reserved.
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Hiscox NOW specializes in providing coverage
for Architects & Engineers.
37%
$1,283
1.4
Quote to Bind Ratio
Average Premium
Policies Per Customer
2,817
3,725
Customers
Policies
As of 01/31/16. The data in the top 3 boxes on this slide refer to quotes and policies issues by Hiscox through our Hiscox NOW captive agent and wholesale broker partners.
The data in the bottom two boxes refer to policies issues through all of our Hiscox NOW partners.
©Hiscox Inc. 2016. All rights reserved.
Common Risks for A&E Pros
Most Common Risks:
Claim Scenarios
 Dissatisfied clients
PL CLAIM EXAMPLE:
 Negligence
 Code violations (FHA/OSHA/ADA)
 Failure to supervise
 Project delays
 Misinterpretation of renderings
 Bodily injury & medical expenses
 Defamation/libel/slander
Code Violations: an architect who designed a new school
was unaware that the accessibility requirements for
schools in the state had recently changed, and were now
different from other public buildings. The school was cited
for code violations and the architect had to appear in court.
Professional liability insurance protects architects against
claims of negligence and will appoint an attorney to defend
them, if needed, even if they haven’t made a mistake.
GL CLAIM EXAMPLE:
Accidental third-party property damage: a draftsman
was contracted to work with an engineering company on a
renovation project in a large commercial building. The
draftsman was working at the job site when he knocked
over a ladder, damaging the tools that were on top of the
ladder. The contractor who owned the tools made a claim
against the draftsman. General liability insurance protects
draftsmen against third-party claims of bodily injury,
associated medical costs and property damage.
 Accidental third-party damage
This information is provided to assist you in understanding the coverage we offer and dos not modify the terms and conditions of any Insurance policy, nor does it imply that any claims is covered. Coverage is
subject to underwriting, terms conditions, and limits of the policy, and is not available in all States. Underwritten by Hiscox Insurance Company Inc. (HICI) a Chicago based insurance company.
©Hiscox Inc. 2016. All rights reserved.
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Customized Coverage for A&E Pros
Professional Liability Insurance
$5,000 of FHA/OSHA/ADA Regulatory Proceeding Coverage
We’ll cover up to $5,000 if an A&E insured actually or allegedly violated the Fair Housing
Act (FHA), Occupational Safety and Health Act (OSHA), Americans with Disabilities Act
of 1990 (ADA) or any state law equivalents.
$200,000 of Pollution Liability Claim Coverage
We’ll cover up to $200,000 if an A&E insured is sued for releasing pollutants as part of
their professional services. Pollutants include smoke, vapor, dust, fibers, mold, fungi,
soot, fumes, acids, chemicals, waste and more.
$200,000 of Asbestos Liability Claim Coverage
We’ll cover up to $200,000 if an A&E insured is sued for releasing asbestos as part of
their professional services.
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©Hiscox Inc. 2016. All rights reserved.
Monoline Professional Liability
For Architects & Engineers
Professional Liability Insurance
Coverage details
Coverage for errors and omissions that occur or are alleged to have occurred in the course
of providing professional services.
• Automatic Renewal
• Claims of negligence, even if your client hasn’t made a mistake
• Admitted paper
•
Monoline product
•
• Defense at an administrative hearing brought by a licensing board
Automatic Blanket AI
included
• Retroactive date equals existing policy retroactive date if switching
‒
• Claims for libel and slander arising from your client’s services
No charge
• Awarded damages and legal defense costs
• Punitive damages up to $250,000 where allowed by law
• Covers services done by employees, temporary staff and independent contractors
• Up to $ 2 million aggregate coverage limit online, ($3M available by phone)
• Various deductible options ranging from $0 to $10,000
Key Coverage Customizations (automatically included)
• $5,000 of FHA/OSHA/ADA regulatory proceeding coverage
• $200,000 of Pollution liability claim coverage
• $200,000 of Asbestos liability claim coverage
©Hiscox Inc. 2016. All rights reserved.
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Monoline General Liability
For Architects & Engineers
General Liability Insurance
Coverage details
Coverage for claims of bodily injury, associated medical costs and damage to property on or
off premises.
• Automatic Renewal
• Covers liability for property damage or bodily injury to 3rd parties
• Covers employees and temporary staff
• Up to $ 2 million occurrence limit online, ($3M available by phone)
• Defense costs outside limit
• No deductible
• Admitted, ISO based form
•
Monoline product
•
Automatic Blanket AI
included
‒
No charge
• Work from home discount (subject to minimum premium)
Optional Add-on: Business Property and Equipment Coverage*
• Covers loss or damage to computer equipment or contents
• Claims settled at replacement costs
• Up to $25,000 coverage limit
• Off-premises sublimit is $2,500
• $500 deductible
*Coverage available for new business only as of September 21, 2015.
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©Hiscox Inc. 2015. All rights reserved.
State Availability
Available in 49 States & D.C.
PL, GL and GL Business Equipment endorsement
No coverage available for:
PL only
GL only
• Alaska
No coverage available in AK
PL not available for:
• New York*
• Virginia
• Vermont
* Coverage coming in 2016
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©Hiscox Inc. 2016. All rights reserved.
Target Appetite:
A&E Design Services
Hiscox NOW covers the following professions with up to $500,000 in annual revenue:
 Architect
 Engineer
 A&E Project Manager
 Electrical Engineer
 Building Inspector
 Environmental Engineer
 Civil Engineer
 Industrial Engineer
 Control System Integrator
 Landscape Architect
 Draftsman (including
CAD/CAM)
 Process Engineer
 Transportation Engineer
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©Hiscox Inc. 2016. All rights reserved.
Out of Appetite (Ineligible)
Hiscox NOW does not cover anyone that provides or subcontracts directly the following
services or works on any projects involving the following materials/infrastructures:
PROFESSIONS:
SERVICES:
Х
Aerospace Engineer
Х Asbestos, lead, or mold evaluation or abatement
Х
A&E Project Cost Estimator
Х Carpentry, construction, demolition, roofing or plumbing
Х
Design Build Firms
Х Delivery services
Х
General Contractor
Х Emergency response or clean-up of any hazardous waste
Х
Geotechnical or Soils Engineer
Х Foundation, sheeting or retaining wall design
Х
Installation/Service Technician
Х Home inspections for prospective buyers/ lenders
Х
Land Acquisition
Х Hydraulic fracturing, hydrofracturing, or fracking
Х
Marine Engineer
Х
Mechanical Engineer
Х
Mining Engineer
Х
Nuclear Engineer
Х
Oil, Gas or Well (Petroleum) Engineer
Х
Structural Engineer
©Hiscox Inc. 2016. All rights reserved.
MATERIALS/INFRASTRUCTURES:
Х Amusement rides, pools or playgrounds
Х Bridges, dams, harbors, mines, piers or tunnels
Х Condominiums
Х Oil, gas or well (petroleum)
Х Underground storage tanks or utilities
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A&E Application Questions
11
©Hiscox Inc. 2016. All rights reserved.
Quote & Bind, Online, in Minutes!
www.hiscox.com/ies-agent
©Hiscox Inc. 2016. All rights reserved.
12
Useful Links & Phone Numbers
Useful Links
Contact Information
•
Small Business Portal
Appetite & Servicing Questions:
Visit to quote & bind online
Appetite Guide
• Call a licensed advisor at: 866-739-0727
(Mon-Fri, 8am-10pm ET)
View our availability by product and state for
• Email us at: [email protected]
•
100+ professions
•
Sell Sheets
•
A&E Application Questions
• Be sure to mention your association with
IES
Partnership Questions:
• Contact Meghan Mueller at (646) 560-0359
or [email protected]
©Hiscox Inc. 2016. All rights reserved.
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Webinar survey
Thank you for your participation in this webinar! We’d love to hear your feedback. Please fill
out our survey that will appear in your browser at the close of this webinar
Underwritten by Hiscox Insurance Company Inc., a Chicago-based insurance company. Coverage is subject to underwriting and the terms, conditions, and limits of the
insurance policy, and is not available in all states. This information is provided to assist in understanding the coverage we offer and does not modify any insurance policy,
nor does it imply that any claim is covered.
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Appendix
15
A&E Sell Sheets
Created to help you sell coverage
Sell sheets include:
• Available products
• Average premium
• Key coverage customization
• Most common lawsuits
• Claim examples
Professions include (but not limited to):
• Architects
• Engineers
• A&E Project Managers
• Building Inspectors
• Draftsmen (including CAD/CAM)
Access Sell Sheets at:
www.hiscox.com/ies-agent
©Hiscox Inc. 2016. All rights reserved.
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