As an architect or engineer, how exposed are you or your firm to risk? For example, is there a prevailing parties' clause in your contract? Do you know what that is?

If you’re an architect or engineer with decision making power in your firm, have your own practice, or are eyeing the opportunity to move up or start your own practice one day, you’ll want to listen to this entire episode. Most people tune out when they hear the word insurance, but this is honestly one of the best and most relatable conversations about risk management and insurance for our industry that I’ve been a part of.

In today’s episode I speak with Zach Waters, CEO at Black Swan Risk Management. He believes in a practical approach to protecting design firms and spends much of his time teaching and consulting on best practices, quality management, and contractual issues in the Design Industry. We discuss a lot of real-world examples and practical tips that you can implement today to reduce risk for your projects and firm. In this conversation you'll hear about QAQC process, fault vs. exposure, things to look out for in consulting agreements, what a prevailing parties’ clause is, the importance of a go-no-go checklist, tips to negotiate lower insurance requirements, standard of care vs. best practices and their impact on insurance, and much more!

Thank you to our sponsors!

BQE CORE

Start implementing powerful systems for the profitability you need and the freedom you want. Join Douglas Tieger, FAIA for the next Designing Your Business Masterclass, brought to you by BQE CORE. Every live masterclass session is free and includes AIA continuing education credit. Register now at bqe.com/masterclass.

Show Music:

Intro - "Keep Calm and Chill" by Soundroll

Outro - "Still Trying" by Dylan Sitts

If you enjoy our content, you can check out similar content from our fellow creators at Gābl Media.

Mentioned in this episode:

Gabl Membership

Design Vault