The Big Switch: Look before You Leap when Changing Insurance Companies
The insurance marketplace is changing every day. Unfortunately, the most current trends are less favorable for policyholders than they have been over the last decade. By now you have probably heard some frightening stories from colleagues who have had their architects’ and engineers’ professional liability policy premiums increase dramatically, have had important options like “first -dollar defense” or multi-year policy terms eliminated, or, worse, have found it difficult even to find an insurance company to offer them a policy. Some of these reports may be urban legend, but to some degree these issues are facing most architecture and engineering firms around the country. Because of this, you may be considering a switch to a new insurance company. If you are, there are important issues to consider.
Download Newsletter