Trend | Range | |
---|---|---|
Professional liability | +5% to +10% | |
Project-specific professional liability | +25% or more | |
General liability/package | Flat to +5% | |
Auto | +5% to +15% | |
Workers compensation | Flat to +5% | |
Umbrella | +5% to +15% | |
Management liability | +5% to +15% | |
Cyber | +50% to +100% |
While the A&E market has remained fairly insulated from the dramatic rate increases and constrictions in capacity in the broader P&C marketplace, we have seen considerable changes from one of the leading A&E PL carriers. The next 12 months will provide an indication of how the market will respond to an evolving risk environment.
Professional liability (PL): While the number of available PL carriers remains high, the number of long-term, stable A&E PL markets is finite.
Insuring single projects brings its own set of challenges.
Emerging A&E claim trends: In January 2022, WTW A&E released a survey of senior claim managers from 12 A&E professional liability carriers. The survey focused on professional liability claim statistics, professional liability claim trends and emerging A&E risks.
The cyber insurance market continues to harden.
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Dan is the Managing Director of WTW A&E, the specialty division for WTW that is exclusively dedicated to providing insurance and risk management solutions to architects and engineers. Dan and his staff of A&E insurance specialists represent over 500 architectural and engineering firms located across the country and practicing throughout the world. Dan and his team provide tailored risk management services, including contract negotiation, claims advocacy and a wide variety of risk management education workshops. Dan is on the ACEC National Risk Management Committee (RMC) and chairs the Cyber Sub-Committee. Dan is active in ACEC, AIA and other associations that support the design community. Dan speaks frequently and has written and presented on a wide range or risk management topics for architects and engineers.