From Risk to Profit Benchmarking and Claims Studies

Consultants Selection of consultants is another important factor to consider when assessing potential risks. A particular project may require other design professionals to provide professional services for a portion of the project. As was discussed in the previous section on evaluating your project, consulting design professionals may be providing design services for portions of the project that have represented significant problem areas for that project type. Should a claim arise out of the services provided by consultants, and any of those consultants are uninsured or underinsured, the prime design professional will be vicariously liable for damages. Since prime design professionals are vicariously liable for the professional services provided by the consultants they select, it is important that design professionals give careful consideration to the selection of their consultants. Should a claim arise out of the services provided by consultants, and any of those consultants are uninsured or underinsured, the prime design professional will be vicariously liable for damages. Unfortunately, it is difficult to track the frequency and severity of claims against the prime design professional due solely to vicarious liability exposure. But exposure does exist and consultant selection is an important consideration for proper risk management.

For more information on the risks of various design disciplines, please visit our School of Risk Management .

21 • From Risk to Profit - Benchmarking and Claims Studies

Victor

Made with FlippingBook Publishing Software