Managing Client Expectations through an Engagement Letter

Congratulations! You landed that new client that you have been working so hard to get.  Now it’s time to get to work.  But before you dive into all those new assignments for your client, you need to take some time and put to paper everything you discussed with your client in writing.  Regardless of profession, it is wise to set forth the expectations of each party before the project begins.  The resulting document is typically called an Engagement Letter…

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CDP Program Overview and Frequently Asked Questions

A&E brokers are taking a closer look at CDP coverage for their clients. Click the button below to see a leading A&E broker's thorough examination of the CDP product along with a list of FAQ's from industry claims professionals and attorneys. Please note: This article has been approved for redistribution by Founders Specialty by Cavignac & Associates on the condition that its content …

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When are most CDP Policies sold?

Our Contractual Defense Protection (CDP) policy has been on the market for close to two years now, and sales have definitely been picking up as more and more A&E agents have become aware of how valuable this coverage is to their clients. Over this time, it has become obvious that the sales of the CDP policy are not tied to the normal renewal of the A&E's professional liability policy. Rather, it is most…

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Selecting Good Clients

A friend recently shared an issue with one of his clients. The project had concluded, the client was invoiced, and the client refused to pay. The matter was taken to the small claims court with a verdict in favor of my friend. However, a counterclaim by the disgruntled client is in the works that will prolong the issue. Unfortunately, for professionals, the aforementioned scenario is not uncommon. Even so, it may be difficult to justify turning down a prospective client when you have put so much time and energy into find new clients. I'm not suggesting that you should reject every…

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