2024 Professional Liability Insurance Survey of Carriers
DISCLAIMER
This survey was conducted with the participation of the American Council of Engineering Companies (ACEC) in furtherance of its purposes and for the benefit of its members and others in the consulting engineering field. ACEC is a nonprofit organization and tax exempt under section 501(c)(6) of the Internal Revenue Code. ACEC's cooperation in this survey and its reporting of the survey data have been provided in compliance with all applicable laws, including the antitrust laws. The data reported in this survey is necessarily limited to information received from the respondents to the survey, and should not necessarily be viewed as representative of the entire field or subject of the survey. All companies and individuals should conduct their activities based on their independent assessment and business judgment. ACEC makes no recommendations, suggestions, or exhortations regarding the conduct of its members or others in areas or activities covered by this survey. ACEC and its officers, directors, agents, volunteers, and employees are not responsible for, and expressly disclaim, liability for any and all losses, damages, claims, and causes of action, including but not limited to direct, indirect, incidental, consequential, or punitive damages and attorneys’ fees and costs, arising out of or resulting from any use, reference to, or reliance on information contained in this publication. Any reproduction or redistribution of this survey in whole or in part without the express written consent of ACEC is strictly prohibited. Copyright © 2024 American Council of Engineering Companies. All Rights Reserved.
2024 Professional Liability Insurance Surveys of Member Firms
An important consideration for every engineering firm is professional liability insurance. Insurance availability, rates, types of coverage, pre-claim assistance, claim processing, and related issues all have a direct bearing on the strength and financial stability of the firm. To help ACEC members understand the current insurance landscape, the ACEC Risk Management Committee conducts an annual survey of member firms on their professional liability insurance coverage and experience.
Professional Liability Insurance Survey of Member Firms: Past Results
Click here for past Professional Liability Survey Results in our Resource Library.
Client Expectations of Perfection
The ACEC Risk Management Committee's latest papers and presentations on the disturbing trend toward client expectations of perfection in engineering services and what ACEC and its members can do about the problem.
Indemnification & Duty to Defend in Engineering Contracts
Access resources on broad form indemnification and the duty to defend in engineering contracts.
Guidelines on the Use of AI by Design Professional Firms
The suggested Guidelines have been drafted by the Artificial Intelligence (AI) Risk Subcommittee of the ACEC Risk Management Committee with input from the ACEC Technology Committee to serve as information for design professional firms in their evaluation of AI. Download Guidelines >
Additional Risk Management Resources & Materials
Join the ACEC Risk Management Committee
The purpose of the Risk Management Committee is to assist member companies and others in understanding and managing risk and, on their behalf, to advocate changes in legislation and regulation to control or allocate risk properly.
