Products & Reports
As an advocate for design and building segments, SmartRisk develops products and reports providing valuable insights and information assisting in making informed decisions impacting the industry today.
SmartRisk conducts surveys, obtains industry data, identifies trends, analysis of insurance and other factors effecting the design and building markets. With "good information, we can make better decisions minimizing risk and maximizing performance and profitability. SmartRisk Products and Reports provides helpful information for;
- Architect & Engineers
- Environmental Consultants
- Agents & Brokers
- Insurance Carriers
- Attorneys
- Project Owners & Developers
- Other Industry Professionals
Title: SmartRisk Survey Report of A/E Firms
With the dramatic changes occurring in the economy today, a survey was conducted of architect, engineering, environmental consultants and other professionals from all regions of the U.S. Sixty-eight firms participated identifying; changes in revenue, project types, insurance decisions driven by economics including changing insurance carriers.
Key Findings:
- 53%: Revenues dropped between 10% to >50% in the past 12 months.
- 44%: Economic conditions played a part in PL insurance decisions.
- 18%: Changed carriers. Reasons; 1) lower premium 2) pre-claims assistance 3) risk management services.
- 48%: have had a claim in the past five years
- Architects accounted for 46% of claims, engineers, 30.8%.
- Firms with reduced revenues accounted for 76.2% of claims
The survey provides valuable insights and information including service offerings from the A/E firm perspective. Impacts on insurance decisions and recommendations for insurance providers during this challenging period are identified.
Item #297001
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Title: SmartRisk Survey Report of Professional Liability (PL) Insurance Carriers
Insurance providers play an important role in every A/E firms and environmental consultants risk management program. A survey was conducted of 17 carriers specializing in Professional Liability (PL) insurance providing vital and valuable information and recommendations assisting firms in weathering this difficult economic period. Based on the challenges and publicity surrounding the insurance industry, carriers identify practices they use to mitigate internal risk improving performance and profitability.
Survey objectives:
- How are economic conditions effecting insurance providers?
- How are insurance providers minimizing their risk?
- Trends for A/E firms: Are firms accepting more risk?
- Recommendations for A/E firms.
- Services offerings and comparisons by carriers
- What is available to assist A/E firms?
This insightful survey report provides a comparison of providers, identifies where A/E firms are accepting more risk, but more importantly, recommendations for mitigating future risk and liability exposures.
Item #297009
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