AXA XL's Design Professional insurance business releases updated online Contract Guide for A/E firms

PR Newswire

EXTON, Pa., Jan. 29, 2024 /PRNewswire/ -- To help architects, engineers, and other design professionals craft strong contracts, AXA XL's Design Professional insurance business updated its online Contract Guide for Design Professionals.

According to Design Professional's Chief Underwriting Officer Douglas Strong, "Risks affecting the design professions are continuously changing, and contracts are a vital tool in helping A/E firms manage their risks. 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 our Guide introduces a new chapter, several noteworthy updates, and some important tools to help A/E firms proactively manage risk."

Updates to this edition of the Contract Guide include:

A new chapter on Non-Disparagement that explains what to look for in client-written non-disparagement contract clauses and how to modify them if clients are unwilling to delete them.
A new Short-Form Agreement intended to be used for and tailored to small projects or projects with a limited scope or engagement.
A new Electronic File Transfer Document to help firms protect their intellectual property rights if replaced on a project.
A new Crisis Management Plan template to help firms develop their own guide with step-by-step instructions on whom to contact, what to do, and what to say (or not) in the event of a crisis.

Other updates address confidentiality clauses, contract review procedures, delegation of design, and prevailing party lawyers' fees.

The Contract Guide can be accessed on the EDGE, AXA XL's Design Professional learning management system. The Guide automatically adapts to any device type for easy, on-the-go access.

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ABOUT AXA XL

AXA XL provides insurance and risk management products and services for mid-sized companies through to large multinationals, and reinsurance solutions to insurance companies globally. We partner with those who move the world forward. To learn more, visit www.axaxl.com

ABOUT AXA XL INSURANCE

AXA XL Insurance offers property, casualty, professional, financial lines and specialty insurance solutions to mid-sized companies through to large multinationals globally. We partner with those who move the world forward. To learn more, visit www.axaxl.com

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