EXTON, PA — AXA XL’s Design Professional insurance business has unveiled an updated version of its online Contract Guide for Design Professionals. This resource is designed to aid architects, engineers, and other design professionals in crafting robust contracts that effectively manage risk and safeguard their businesses.
Douglas Strong, Chief Underwriting Officer at Design Professional, highlighted the importance of the guide in today’s dynamic risk landscape. “Risks affecting the design professions are continuously changing, and contracts are a vital tool in helping A/E firms manage their risks,” he said. “Through our Contract Guide we make sure our design professional clients are well equipped to negotiate contracts that effectively address risk and protect their businesses.”
The 12th edition of the guide introduces several noteworthy updates and a new chapter, offering critical tools to help design firms proactively manage risk.
Key additions and updates include:
- Non-Disparagement Chapter: The guide introduces a new chapter on non-disparagement, providing guidance on interpreting client-written non-disparagement contract clauses and advice on how to modify these clauses if clients are unwilling to remove them.
- Short-Form Agreement: The guide includes a new short-form agreement, designed to be used for and customized to small projects or those with a limited scope or engagement.
- Electronic File Transfer Document: This new document aims to assist firms in protecting their intellectual property rights if they are replaced on a project.
- Crisis Management Plan Template: The guide now features a crisis management plan template to help firms develop their own guide, complete with step-by-step instructions on whom to contact, what actions to take, and what to communicate (or avoid) during a crisis.
Moreover, the guide also addresses updates related to confidentiality clauses, contract review procedures, delegation of design, and prevailing party lawyers’ fees.
Accessible via the EDGE, AXA XL’s Design Professional learning management system, the Contract Guide offers user-friendly navigation and automatically adapts to any device type for convenient, on-the-go access.
By providing comprehensive, up-to-date resources, the AXA XL is empowering these professionals to better protect their businesses in a rapidly evolving risk environment.
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