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Featured Article

Survey of Insurance Carriers

A/E Firms Accepting More Risk Driven by Economic Conditions 

SmartRisk recently conducted a survey of 17 insurance carriers specializing in providing PL insurance for A/E firms. With all the negative attention of the insurance industry following the near collapse of AIG and the challenges for many A/E firms based on the down economy, the survey focused on the following; 
• How economic conditions  are effecting insurance providers?
• What are insurance providers doing to minimize risk?
• Trends for A/E firms: Are firms accepting more risk?
• Recommendations for A/E firms to manage risk.
• Offerings available by carriers to assist A/E firms.

The following are a few of the key findings of the survey. More detailed information, analysis and conclusions are found in the survey report. 
     
• 82%: A/E firms accepting more risk
• 36.3% Premium rates down
• 73%: Not purchasing insurance, lowering limits, increasing deductibles
• 53%: Offering risk management services to all firms
• 35.3%: Economic climate increased claims
• 45%: Rates for 2009 and 2010 indicated as even
• 75%: Offering BIM coverage in policy language.

The complete survey results of this report, others is available through our under the "Products" page. 
http://www.smartrisk.biz  

SmartRisk Reporter
This is SmartRisk introductory newsletter, "SmartRisk Reporter". Our intent is short, to the point topics of interest that effect and impact design, environmental and construction professionals today. SmartRisk focus will be on areas of risk and liability exposures. Through research and analysis, firms will be provided information assisting in making better informed decisions for managing risk and improving performance and profitability. An excellent example of that approach can be found in the "Featured Article" section of this newsletter (left side bar), "Survey of Insurance Carriers; A/E Firms Accepting More Risk Driven By Economic Conditions".  

SmartRisk is a consultancy providing risk and performance management services.


Our Objectives; through assessment, education and implementation:

* Minimize risk and liability exposures
* Maximize performance and profitability
* Reduce insurance costs   

SmartRisk Services:

* SR Risk Assessment Reports & Profiles
* Risk Management Plans
* Training & Consulting
* Insurance Analysis
* Contract Review 

Timothy (Tim) Corbett Founder and President of SmartRisk has over 25 years of experience developing and implementing insurance and risk management programs for architects, engineers, environmental consultants, and construction professionals. Tim has implemented model programs for numerous firms, including international engineering/construction firms

 Bechtel and EG&G, where he obtained a Department of Energy (DOE) Top Secret Security “Q” Clearance.Tim held VP and Director Positions with insurance carriers DPIC and Zurich with responsibilities for Underwriting, Risk Management and Industry Relations. Mr. Corbett is a member of American Council of Engineering Companies (ACEC), American Institute of Architects (AIA), and the United States Green Building Counsel (USGBC). Tim sits on numerous national committees and is regularly called upon as a speaker at regional and national forums. He has been published and quoted on the topics and owns copyrights to risk management practices and strategies.
 
For more information on SmartRisk can improve your performance and profitability through specialized risk and performance management solutions, please contact us or view our services on our Website.

Tel: 626-665-8150
Email: info@smartrisk.biz
www.smartrisk.biz