Insurance premiums for architects and engineers professional liability stabilized in 2015 after three straight years of moderate increases.
Insurers also plan to hold the line on rates this year, according to new survey by insurance broker Ames & Gough. The survey of 14 insurance companies that write more than 75% of the architects and engineers liability (A&E) policies in the U.S. found that rates had been kept fairly stable in 2016 partially due to healthy competition.
A few insurers reported that they will seek to raise rates this year. Most of these carriers plan to target increases to specific disciplines, such as structural engineering and geotechnical engineering, or specific project types--namely residential construction and schools, which have incurred increased claim activity recently.
“While the insurance market is competitive, the buyers benefitting the most will be those that maintain high standards for managing risk, including evaluating the risk-reward potential of new projects and knowing how a change in project mix might affect their risk profile and insurance program,” said Joan DeLorey, senior vice president and partner, Ames & Gough.
Related Stories
| Sep 8, 2011
Water Safety in Buildings Guide Published by World Health Organization (WHO)
This WHO book provides guidance for managing water supplies in buildings where people may drink water, use water for food preparation, wash, shower, swim or use water for other recreational activities or be exposed to aerosols produced by water-using devices, such as cooling towers.
| Sep 7, 2011
NFPA Fire & Life Safety Conference in December
Presentations on recent Fire Protection Research Foundation projects, how September 11th and the Triangle Shirtwaist Factory fire affected high rise design, and a panel discussion on emerging code issues will be featured at the National Fire Protection Association (NFPA)’s Fire & Life Safety Conference on December 12-14 in Orlando, FL.The meeting will include more than 60 educational sessions in which participants can earn continuing education units (CEUs). Presentations will be led by NFPA staff experts and technical committee members, and will be organized in four tracks – building and life safety, detection and alarm, fire suppression, and codes and standards. For more information, visit www.nfpa.org/FLSCONF.
| Sep 1, 2011
Project Aims to Automate Code Compliance Assessment
FIATECH, a consortium of owners from the industrial, power, and retail markets that build large structures, launched a project this year to validate the use of automation technology for code compliance assessment, and to accelerate the regulatory approval process using building models. Long-term objectives include the development of an extensive, open-source rule set library that is approved by industry and regulatory bodies for use by technology developers and code officials.
| Sep 1, 2011
EPA Says Additional Lead Paint Cleaning Rules Not Necessary
The EPA has concluded that current Lead: Renovation, Repair, and Painting Program (LRRP) cleaning requirements and lead-safe work regulations are sufficient to protect the public from lead dust hazards. “Our members have been instrumental in contacting legislators to detail the detrimental impact of the current LRRP," says Richard Walker, American Architectural Manufacturers Association’s president and CEO. “This collective industry voice has prompted the EPA to make the responsible decision to refrain from adding further, unnecessary costs to homeowners under the current economic climate."http://www.aamanet.org/news/1/10/0/all/603/aama-commends-its-members-congress-for-vacating-lrrp-clearance-rule
| Aug 11, 2010
Best AEC Firms of 2011/12
Later this year, we will launch Best AEC Firms 2012. We’re looking for firms that create truly positive workplaces for their AEC professionals and support staff. Keep an eye on this page for entry information. +
