Source: https://www.businessinsurance.com/, March 5, 2025
By: Matthew Lerner

Most insurers providing architects and engineers professional liability insurance plan to raise rates this year amid concerns about the persistent effects of inflation on claim expenses, uncertainty about the U.S. economy, as well as other new exposures including artificial intelligence, according to a report Wednesday from specialty insurance broker Ames & Gough.

Among insurers surveyed this year, 71% are seeking rate increases, 24% plan to keep rates flat and just one insurer expects to reduce rates, Ames & Gough said. Read more.