Addressing the disconnect between the no-fault environment of integrated project delivery and the pro-fault environment of professional liability insurance, at least two insurers are getting ready to offer project-specific policies for buildings. The policies, which generally insure all design professionals who perform professional services on a particular project, can be expensive because they are highly customized, say insurers. But the concept behind them is a recognition of IPD’s shared responsibility between the designer and the contractor.
Schinnerer & Co., Chevy Chase, Md., an underwriter for CNA, Chicago, spent 20 months crafting its program, says Kevin Collins, a Schinnerer senior vice president. It should be available in July.