flexiblefullpage
billboard
interstitial1
catfish1
Currently Reading

Professional liability insurance rates for architects and engineers expected to be stable in 2017

Codes and Standards

Professional liability insurance rates for architects and engineers expected to be stable in 2017

Premiums leveled off in 2015, and claims have been stable, helping to hold costs down.


By Peter Fabris, Contributing Editor | March 20, 2017

Pixabay Public Domain

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

Multifamily Housing | Apr 26, 2022

Investment firm Blackstone makes $13 billion acquisition in student-housing sector

Blackstone Inc., a New York-based investment firm, has agreed to buy student-housing owner American Campus Communities Inc.

Codes and Standards | Apr 25, 2022

Supply chain constraints, shifting consumer demands adding cost pressures to office fit-outs

Cushman & Wakefield’s 2022 Americas Office Fit-Out Cost Guide found supply chain constraints and shifting consumer demands will continue to add pressure to costs, both in materials and labor.

Legislation | Apr 21, 2022

NIMBYism in the Sunbelt stymies new apartment development

Population growth in Sunbelt metro areas is driving demand for new apartment development, but resistance is growing against these projects.

Codes and Standards | Apr 18, 2022

Dept. of Energy has RFI on funding cost-effective updated energy codes implementation

The U.S. Department of Energy (DOE) Building Technologies Office (BTO) has issued a request for information regarding funding cost-effective implementation of updated building energy codes.

Legislation | Apr 14, 2022

Defense Dept. building largest 3D-printed structures in Western Hemisphere

The U.S. Department of Defense is constructing three barracks at the Camp Swift Training Center in Bastrop, Texas that will each be the largest 3D-printed structures in the Americas.

Wood | Apr 13, 2022

Mass timber: Multifamily’s next big building system

Mass timber construction experts offer advice on how to use prefabricated wood systems to help you reach for the heights with your next apartment or condominium project. 

Codes and Standards | Apr 13, 2022

LEED multifamily properties fetch higher rents and sales premiums

LEED-certified multifamily properties consistently receive higher rents than non-certified rental complexes, according to a Cushman & Wakefield study of two decades of data on Class A multifamily assets with 50 units or more.

Legislation | Apr 11, 2022

Dept. of Energy releases RFI for K-12 schools energy upgrade program

The U.S. Dept. of Energy (DOE) released a Request for Information (RFI) to help decide how best to spend $500 million from the recently passed federal infrastructure law for K-12 public school energy upgrades.

Codes and Standards | Apr 8, 2022

Dept. of Energy boosts energy efficiency standards for federal buildings

The Department of Energy’s recently released new energy efficiency standards for federal buildings.

Codes and Standards | Apr 7, 2022

Uptake of low-carbon materials expected to get a boost from federal building plan

Low-carbon materials will get a sizeable boost via purchases through a federal $3.4 billion building plan to modernize U.S. border crossings.

boombox1
boombox2
native1

More In Category


Reconstruction & Renovation

Movement to protect historic buildings raises sharp criticism

While the movement to preserve historic buildings has widespread support, it also has some sharp critics with well-funded opposition groups springing up in recent years. Some opponents are linked to the Stand Together Foundation, founded and bankrolled by the Koch family’s conservative philanthropic organization, according to a column in Governing magazine.



halfpage1

Most Popular Content

  1. 2021 Giants 400 Report
  2. Top 150 Architecture Firms for 2019
  3. 13 projects that represent the future of affordable housing
  4. Sagrada Familia completion date pushed back due to coronavirus
  5. Top 160 Architecture Firms 2021