rate increases News

Survey: Claim Severity Driving Rate Increases for Architecture and Engineering Firms

Rising claim severity is leading to rate increases for professional liability insurance sold to architecture and engineering firms, according to a report released Tuesday by Ames & Gough. The brokerage, headquartered in McLean, Va., said that 73% of professional liability …

Zurich Insurance Sees Best Chance to Raise Prices in 18 Years

Zurich Insurance Group AG expects to have more power to increase commercial insurance rates than it has seen in almost two decades as a shortage of supply and high natural catastrophe payouts help reverse declining premiums. “The last time this …