Source: https://www.insurancejournal.com/, March 24, 2020
By: Jim Sams
Increased billings by architecture and engineering firms generated bigger professional liability premiums in 2019 but also led to the first upswing in claims activity in several years, Ames & Gough said in a report.
The brokerage, based in McLean, Va., said its annual survey of professional liability insurance carriers found that 40 percent reported a deteriorating claims experience. Partner Jared Maxwell said some carriers will likely have to raise rates to keep up with increasing losses. Read more.