Architects and Engineers Professional Liablity Insurance State of the Market
Purchasers of a/e professional liability insurance are understandably perplexed by the cyclical nature of this market segment. The cost of coverage goes up and goes down again without any apparent reason. When competition heats up negative pressure is exerted on pricing. In addition to price reductions, coverage tends to expand and previously undesirable classes of business become easier to insure. Purchasers, as well as insurers prefer an environment that supports stability. However that goal seems as elusive today as it has over the past twenty-five years.