Most insurers providing architects and engineers (A/E) professional liability insurance plan to raise rates this year, according to a survey from Ames & Gough.
Among those surveyed, 71% of insurers said they are planning rate increases this year. Another 24% are aiming to keep rates flat this year, while just one insurer expects to reduce its rates.
The increases are likely to be modest. Of the insurers planning rate hikes, most said they’ll likely increase rates by 5% or less. Only one is planning an increase of 6 to 10%.
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Corey Dahl
Corey Dahl is assistant editor with PropertyCasualty360.com. Reach her at [email protected].
