Eight Insurance Risk Trends to Watch

Bruce Palmer, President and CEO shares eight important trends that will affect insurance risks and claims.

The everyday management of risks comes with being a professional architect or architectural technologist.

Managing, mitigating, avoiding, transferring or accepting risk, becomes a conscious, purposeful daily act – a muscle that is routinely exercised – whether you’re the firm’s Principal / Managing Principal, an architect owner or an employee architect.

To help you stay on top of those everyday risks, Pro-Demnity provides regularly published Bulletins, articles in the Straight Line e-newsletter, risk education and news found across this website, which you’re encouraged to explore.

And, to assist you in thinking about risks that might affect your firm in the near future, we’re sharing eight trends that you should be aware of today:

  1. Accelerated size of projects
  2. Increased demand for higher liability limits
  3. Use of collaborative technologies
  4. Demand for resiliency
  5. Increasing scope of practice
  6. Increased dollar size of claims
  7. Competition for projects
  8. Fees being driven down

The latest Let’s Talk video from President and CEO Bruce Palmer, expands on these eight trends, providing relevant insights to help you future-proof your practice.

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