Resource
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. Every year, ACEC reviews the survey questions and seeks to improve the survey method. The results of the 2019 survey for FY 2018 are presented here in a spreadsheet format and broken down by firm size and professional liability carrier. There is also a section on claims. The results include responses to questions on premiums, deductibles, and coverage limits. In addition, there are ratings by the participants of their satisfaction with their professional liability carrier.
We believe the 2019 survey produced some of the highest-quality statistical data available today, and contains important information that a firm can use as it reviews its professional liability coverage and compares the carriers who serve our industry. We hope it will be of value to you and your firm.