To better understand how insurers meet the professional liability insurance and risk management needs of design professionals, the AIA, the AIA Trust, the American Council of Engineering Companies (ACEC), and the National Society of Professional Engineers (NSPE) conduct an annual survey and interviews of insurance carriers. In 2016, 18 carriers participated in the survey. In addition, about a dozen carriers participated in interviews about pertinent industry trends and risks.
These trends and risks include the frequency and severity of claims, developing areas of potential risk, and how the insurance carriers are responding to emerging risks. Some specific risks discussed include IPD, design-build, P3s, sustainability, and cyber security. A summary of these trends has been compiled in a report found by clicking here, which also mentions some carriers’ loss prevention programs and other issues discussed during the interviews. A chart of the participating carriers’ survey responses is available on the AIA Trust website by clicking here.