contractors and construction

In an opinion column for The Zweig Letter, Rob Hughes, senior vice president and partner, Ames & Gough provides tips and strategies for AEC firms to navigate the challenges of responding to higher professional liability insurance requirements during a hard commercial insurance market. In addition to providing insights on what’s driving the requirements, he shares tips for negotiating these demands with project owners, as well as insurance options that might help AEC firms control premium costs while meeting contractual coverage requirements.

The recent and tragic Miami condo collapse has provoked many inquiries as to what a design professional might do in the event of a tragedy. Although dramatic, it was not the first such incident and unfortunately, will not be the last. The following is a five-step plan for consideration by design professional individuals or firms before, during, and after such an event.

As AEC firms face a tightening market for professional liability insurance, they need to explore every opportunity to establish themselves as favorable risks to
underwriters. A detailed and carefully completed insurance application may help keep
your firm’s premium as low as possible – even in the current rate environment.

This report addresses (1) the state of coverage and key trends in the current market for cyber insurance, and (2) identified challenges faced by the cyber insurance market and potential options to address them.