WHEN it comes to the architects and engineers professional liability insurance market, the byword is "competitive." At the moment, there seems to be ample capacity for the coverage, with the likelihood that competition for business only will increase–at least over the next 18 months or so.
But "competitive" also describes the market in which design professionals themselves must work. Here, pressures are building that can force architects and engineers into taking shortcuts that can come back to haunt them–as well as the insurers that cover them.
At the annual conference of the Professional Liability Underwriting Society, which was held in November in Boston, a panel of speakers discussed the state of the market for architects and engineers professional liability insurance. They also commented on trends in the construction industry, and how they might affect design professionals and their carriers. Among the issues they addressed were the pressures on design professionals created by the design-build and construction management methods of project delivery, and the proliferation of construction-defects claims–which often turn into design-defects claims.
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