EXTON, Pa., Feb. 21, 2017 /PRNewswire/ -- To help more
design professionals manage business risk with strong contracts, XL
Catlin's Design Professional insurance business released the
Contract eGuide's Professional Services Agreements: A
Primer making it publicly available in their online Loss
Prevention Library. The Contract eGuide provides updated
guidance on key contract issues affecting architects, engineers and
other design professionals.
According to Doug Strong, Chief Underwriting Officer of XL
Catlin's Design Professional business, "A good contract is the
cornerstone of a solid risk management program. By clearly and
realistically defining the expectations and responsibilities of
each party, a professional services agreement can significantly
reduce the potential for conflicts and claims. That's why so many
design professionals see value in our Contract eGuide and why we
remain committed to frequently updating the content. We're
pleased to be able to offer a sample of our contract guidance to
the design professional community via our Professional Services
Agreements: A Primer containing the introductory chapters of
the Contract eGuide."
While the full Contract eGuide is provided only to the XL Catlin
insurance companies' policyholders, the first nine chapters, or
Primer, are available to all design professionals interested in
strengthening their contract knowledge. It provides a high-level
summary of the foundational concepts design professionals need to
understand in order to develop, negotiate and execute equitable
contracts including:
- Contract Basics
- Dealing with Risk
- Deal Makers and Deal Breakers
- How to Review a Client-Generated Contract
- Negotiating a Contract
- Professional Association Standard Agreements
- Resources for Contract Review
- Types of Agreements You'll Encounter
- Why Have a Written Agreement?
The Contract eGuide is known as the industry's gold
standard by many architects, engineers and their attorneys and
covers more than 100 topics of issue-driven discussions, claims
scenarios, problem-solving strategies and contract language
solutions. Those interested can "take a tour" of the eGuide on XL
Catlin's Design Professional website.
XL Catlin's Design Professional business provides professional
liability insurance for architects, engineers and design
consultants. Coverage is available for firms of all sizes and
disciplines. XL Catlin's design professional coverage is
accompanied by a variety of loss prevention assistance and risk
management assistance including continuing education courses and
access to XL Catlin's Contract eGuide.
About XL Catlin Insurance Operations
XL Catlin insurance companies offer property, casualty,
professional, financial lines and specialty insurance products
globally. Businesses that are moving the world forward choose XL
Catlin as their partner. To learn more,
visit xlcatlin.com.
About XL Catlin
XL Catlin is the global brand used by XL Group
Ltd.'s (NYSE:XL) insurance and reinsurance companies which
provide property, casualty, professional and specialty products to
industrial, commercial and professional firms, insurance companies
and other enterprises throughout the world. Clients look to
XL Catlin for answers to their most complex risks and to help move
their world forward. To learn more, visit xlcatlin.com.
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SOURCE XL Catlin