A recent Ames & Gough survey of leading A/E Professional Liability Insurers (75% US market) indicates 79% had 2013 rate increases. Only 7% insurers experienced greater claim frequency but half reported higher claim severity. Higher claim severity is a red flag for A/E firms to make sure their limits are adequate. Firms need to take proactive risk management measures. Click to read the report.
The last thing you need to worry about is whether your professional liability insurance is adequate. Read important tips for finding the appropriate broker and insurer for your practice, by clicking here for the whitepaper.
Underwriters and actuaries assess various factors to assess your firm’s potential risk, including your firm’s size, billings, location, clients, and project types. A Schinnerer study identifies these factors to provide you with key information when applying for professional liability insurance. Click here for the report.
Many risks can jeopardize the future of your practice, your firm, and your financial well-being. This article will help to familiarize you with the necessary considerations and alternatives when selecting business and professional liability insurance for your firm. Click here for the report.