Liability Insurers Report Rise in Claims Against Architects and Engineers
Increased billings by architecture and engineering firms generated bigger professional liability premiums in 2019 but also led to the first upswing in claims activity in several years, Ames & Gough said in a report.
The brokerage, based in McLean, Va., said its annual survey of professional liability insurance carriers found that 40 percent reported a deteriorating claims experience. Partner Jared Maxwell said some carriers will likely have to raise rates to keep up with increasing losses. Read more.…