New York City Council has approved Cornell’s two million square foot tech campus plan. The first building is scheduled to break ground in 2014 and is said to have both geothermal and solar power to achieve net-zero energy use. The completed campus is expected to have housing for 2000 full time graduate students, education facilities, a hotel, a corporate co-location building, and more than an acre of public open space. This is the beginning of a 23-year phased project. To alleviate Roosevelt Island resident’s traffic congestion concerns, Cornell promised to transport construction equipment via barge. This is a highly visible project that has ambitious sustainability goals that hopefully will be a showcase for environmentally friendly design and construction practices.
Through our business partnership with the AIA Trust, our Senior Risk Management Attorney Frank Musica conducted a podcast with Entrepreneur Architect, a blog that delivers content aimed at entrepreneurial architects. Frank’s informative podcast answers questions about what professional liability insurance is and why sole proprietors and owners of small architecture firms need it. The podcast discusses the history of professional liability insurance, insurance requirements for small firms, and the benefits of holding such insurance. The types of claims architects may face are explained, as well as specific insurance coverages such as “claims made” and “prior acts.” The podcast discusses helpful information such as policy exclusions, how to choose the right broker, and factors affecting the cost of insurance. In addition, Frank goes over what firms should include in their contracts with owners in order to protect them from claims, such as limitation of liability provisions and waiver provisions.
In the industrial Pilsen area of Chicago lies a road that has been labeled by the city as “the greenest street in America.” While “the greenest paved street in America” would be more accurate, the technology involved in the paving of the street is very interesting. An Italian manufacturer, Italcementi, produced a porous pavement that contains titanium dioxide, which “eats smog” by reacting with sunlight to decompose organic materials on its surface and even helps to clean the air up to eight feet away from its surface. The pavement isn’t the only green aspect of the street. Bioswales on either side of the road, fit with drought-resistant trees and other plants, can absorb up to 80 percent of storm water before it enters the sewer system. Additionally, the bioswales consume CO2. The streetlights run on energy generated by solar panels and windmills. 60 percent of the construction’s waste was recycled, and many recycled materials were used in construction of the project.
According to Michael O’Brien, a management and ownership transition consultant with Rusk, O’Brien, Gido + Partners,to survive in the new economy firms must focus on developing a deep management team that enables flexibility to meet changing market needs, and on an ownership program that is consistent with the firm’s culture and management style. In his podcast on the recovering economy, O’Brien emphasizes the value in nurturing the development of revenue-generating business development experts, increasing the skills of project managers and others operating the firm, and placing value on those who can provide the technical solutions demanded by clients that allow a firm to meet the challenges of a transitioning marketplace. He also discusses the need for firms to foster an accountability-driven environment in order to grow and to mitigate their business and professional risks.
Now, we don’t mean that electricity’s reign as the primary source of power for the modern world is coming to an end. Just that it should move over just a little to make room for another source.
In a market that has seen significant changes over the past few years, including carriers changing the crisis response firms associated with their kidnap, ransom & extortion (KR&E) policies, Schinnerer’s KR&E program has continued to provide stability in the market.
The Difference Between Specialty and Miscellaneous Professional Liability Policies
Understanding how coverage applies to different classes of business is vital when choosing coverage for your client.
The greatest number of professional liability claims on construction projects arise from communication problems.