Column and Beam

A blog for design and construction professionals.

Category: Limitation of Liability (page 1 of 4)

Protect Your Business – Steps to Avoid Personal Liability

Architects, engineers and other construction professionals, like all business owners, create business entities, like corporations and limited liability companies, to operate their businesses and to shield themselves from personal liability.  The liability shield is a primary benefit of establishing a business entity, because it protects the business owner and the officers and directors of a corporation from personal liability for acts of the company.  However, merely forming a corporation is not necessarily sufficient to avoid personal liability, since it is possible to “pierce the corporate veil” if a business does not maintain a separate identity from its owners or related entities. 

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Why You Should Consider Rectification Coverage

During the course of any design or construction project, there are various factors that can cause damages or delays, which can be financially costly and detrimental to your firm’s reputation.  For this reason, it is essential to have comprehensive liability insurance.  In recent years, many insurance carriers have begun to offer a new form of protection called rectification coverage which is available to contractors under their professional liability policy and to design professionals who have a lead role in design/build projects.

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5 Things You Need to Know About Cyber Insurance

Is your firm at risk for a cyber attack?  The answer may surprise you.  Attacks against all businesses are increasing, and though smaller companies may assume they won’t be targeted, Symantec’s 2016 Internet Security Threat Report found that 43% of all attacks in 2015 were against small businesses.  You can’t entirely prevent an attack, but you can protect your company by purchasing cyber insurance.  Here are a few things to consider.

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Are Your Architects and Engineers Exempt?

Navigating employment laws can be challenging for design and construction firms, particularly in today’s uncertain climate.  One concept that is surprisingly complex and requires careful attention is the classification of employees as exempt or non-exempt.  Most employers assume it’s an easy distinction, especially regarding seasoned career professionals, but what about unlicensed intern architects and engineers-in-training (ETIs)?

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What You Need to Know about Document Retention for Employment Records

Is your company a small group of five or a large team of five hundred?  Whatever the case may be, you have important and confidential employment records.  These can include a wide variety of paper and electronic documents, including time sheets, emergency contact forms, performance evaluations, and medical leave requests.  Your employment records should be kept in a secure location, but there’s no need to retain them indefinitely.  The following are federal requirements regarding document retention.

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