Defense costs outside the limit of liability
Defense costs outside the limit of liability (DOL), otherwise known as additional claim expenses limit of liability, is a highly valuable feature of professional liability insurance for design professionals.
Available through Victor's Architects & Engineers professional liability for firms with billings up to $1M, this feature covers legal defense costs separarely from an insured's policy liability limits.
Learn more about defense costs outside the limit of liability through our explainer video, comprehensive overview, and real-world case study.
Multi-year professional liability policies
Multi-year professional liability policies are designed to provide coverage for design professionals over an extended period, typically spanning multiple years. Unlike standard professional liability insurance, which is usually issued on an annual basis, multi-year policies offer continuous coverage for a specified duration, often ranging from two to three years.
Through Victor's Architects & Engineers program, eligible design firms with billings up to $1M can choose a multi-year policy that offers continuous coverage with fixed annual premiums and reinstatement of limits, eliminating the need for annual renewals.
Learn more about multi-year policies through our explainer video, comprehensive overview, and real-world case study.
Rectification coverage
Rectification coverage is a distinctive and valuable feature offered by Victor, included in both Victor’s Architects & Engineers and General Contractors professional liability policies. This coverage is available to firms of all sizes, from small practices to larger organizations.
With rectification coverage, insureds can proactively self-report an early-detected error that requires correction before it escalates into a costly claim. This proactive approach is a key advantage, as traditional claims are typically initiated by third parties only after damage has occurred.
Learn more about rectification coverage through our explainer video, comprehensive overview, and real-world case study.
$0 deductible option
Insurance contracts do not always transfer all the risk to an insurer; insureds retain some of the risk, in part, by way of a deductible. A deductible is defined as the amount of money an insured is responsible to pay directly towards an insured loss before the insurance carrier pays a settlement on the insured’s behalf.
However, through Victor's Architects and Engineers professional liability program, eligible firms with annual billings up to $500,000 can purchase a professional liability policy with a $0 deductible. This means that if a claim were to occur, the insured would not be paying a deductible on a settlement or for claims expenses.
Learn more about our $0 deductible option through our explainer video, comprehensive overview, and real-world case study.
To learn more about Victor's Architects & Engineers program, email design.us@victorinsurance.com or connect with your business development contact.
