Hackers on the jobsite: Cyber attacks target the construction industry, By Conor Mulcahy, AXA XL Claims Specialist, Cyber Professional

Today’s construction operations are deeply reliant on technology. Drones inspect job sites and return results to cloud-based databases. Wearable technology alerts workers to jobsite hazards. Technology solutions such as virtual reality, augmented reality, connected job sites and advanced tracking help site managers better manage project outcomes and safety, and predict and mitigate risks. Yet all of the technology comes with …

A special 30th anniversary wish for Kim Fricke

On February 18, 2018 we celebrated the 30th anniversary of the founding of PCIA. It was 30 years ago, with a dream, a lot of tenacity and a single-minded drive to succeed, that Kim Fricke started PCIA, to serve the unique insurance needs of architects, engineers, CPAs and lawyers. The year was 1988, and she worked tirelessly to launch her …

Bifurcated or “Split” Indemnity

As we review owner-drafted contracts for our design professional clients, we occasionally will suggest a “bifurcated” or “split” indemnity. We suggest splitting the indemnity when clients insist on including the obligation for the design professional to “defend” the client.  Negotiating and achieving an insurable indemnity with a client is not for the faint of heart.  We find educating the client …

Wire Transfer Fraud: What CPAs Need to Know

CPAs, like other professional service providers, have become targets for wire/fund transfer and social engineering fraud as cyber criminals continue to improve their hacking skills. Nationally and globally, we’re seeing an increase in schemes that trick companies into wiring funds to fraudulent bank accounts. While internal controls are essential, they can only go so far. What’s the Best Course for …