For the third consecutive year, most insurers providing professional liability insurance for architects and engineers saw their premium rates increase modestly in 2014, as expectations of larger rate hikes were tempered by steady competition.

A new survey by insurance broker Ames & Gough finds a majority of these insurers are anticipating further modest increases this year, albeit at levels below their gains in prior years.

According to the Ames & Gough survey of 14 leading insurance companies (which, on a combined basis, represent more than 75 percent of the overall marketplace providing professional liability insurance to architects and engineers in the U.S.), 64 percent had rate increases last year, 29 percent had flat rates, and one insurer lowered its rates. The survey revealed that the size of any increases achieved in 2014 were significantly below insurer expectations at the start of that year.

For example, as 2014 began 22 percent of insurers planning to raise rates expected to see increases of 6 percent to 10 percent; however, only one insurer actually had such gains. The majority (88 percent) of these insurers had actual increases of 5 percent or less.

This year, eight of the 14 insurers surveyed are planning increases; six expect to keep rates steady. Of those planning higher rates, 87 percent expect increases of 5 percent or less.

While the professional liability insurance market generally remains competitive, insurers are sharpening their focus on sound underwriting and carefully assessing the performance of their overall book, said Dan Knise, president and CEO of Ames & Gough. In this environment, many insurers continue to vie for relationships with smaller design firms, considered by underwriters as lower risk, and those with a good loss history and well-established and documented risk management programs.

The survey showed that half the insurers planning increases consider rates to be inadequate, primarily due to successive years of premium reductions from 2005 2011. Some 25 percent cited historic claims experience (losses going back more than two years), and one insurer each pointed to loss experience with in the past two years, inflation, and underwriting criteria as reasons for seeking higher rates.

Insurers responding to the survey remain committed to the architects and engineers professional liability insurance market and capacity remains stable.

For any individual qualified insured firm, two of the insurers surveyed can provide up to $25 million in limits; two, up to $15 million; two, up to $10 million, and four are willing to provide up to $5 million in limits for an individual account. In addition, with multiple insurers able to participate on any individual firms program, larger publicly traded design firms can access $100 million in limits or more.

Insurers also are keeping a watchful eye on factors driving up claim costs. While claim frequency appears in check with only 7 percent of those surveyed experiencing more claims last year, the size of average claims are up 43 percent reported higher claim severity last year. While respect to claim costs, 36 percent of the insurers surveyed cited increased defense costs as an emerging cost driver. As to their largest single claim payment in 2014, 71 percent paid a claim of $1 million or more, including 14 percent reporting their largest claim was between $10 million and $19 million.

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Premiums, Claims Severity on Rise in Architects & Engineers Market: Survey

Pier Solar and the great Architects #63 - Elektrifizierend
Nix mehr verpassen: http://goo.gl/iYz3bn Playlist: http://goo.gl/mZJVbh VLogs: http://goo.gl/EGdeMp ----------------------------------------------------------------------------------------...

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Bee #39;ah headquarters in UAE by Zaha Hadid Architects
Bee #39;ah has released an animation of their Zaha Hadid #39;s headquarters building in the United Arab Emirates.

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Bee #39;ah Headquarters by Zaha Hadid Architects
Animation by MIR Zaha Hadid Architects.

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Interview with Richard Gage Architects Engineers for 9 11 Truth 480p
I am just a middleman trying to spread the word FAIR USE NOTICE: This video may contain copyrighted material. Such material is made available for entertainment purposes only. This constitutes...

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Architects selected for UA medical tower

Banner Health has awarded the contract for the design of the new Banner-University Medical Center Tucson hospital tower in Tucson to Shepley Bulfinch architects of Phoenix, in association with GLHN Architects & Engineers Inc. of Tucson. The 11-story tower is scheduled for completion in 2019.

Banners acquisition of University of Arizona Medical Center was finalized on Feb. 27.

Shepley Bulfinch prepared the master plan for the new Banner-UMC facility and completed the hospitals surgical services renovation and expansion in 2013. Elsewhere in Tucson, the firm worked on the development of the Main Gate Overlay District near the UA campus.

Tucson-based GLHN has worked on local projects including the Streetcar Maintenance and Storage Facility and Pima County Courts Complex.

Tucson-based Raytheon Missile Systems has been awarded an Air Force contract worth more than a half-billion dollars to produce advanced air-combat missiles for the U.S. and its allies, according to a Pentagon contract notice.

Under a three-year, $529 million contract, Raytheon will produce an undisclosed number of Advanced Medium Range Air-to-Air Missiles (AMRAAMs) by early 2018 for the Air Force, the Navy and for foreign military sales. Fiscal 2015 Air Force and Navy production funds totaling $295 million were obligated at the time of award, the Defense Department said.

The AMRAAM is used by 36 allied nations. In December, the Air Force awarded Raytheon a $492 million contract to supply an undisclosed number of AMRAAMs and related equipment in a deal involving sales to South Korea, Oman, Singapore and Thailand.

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Architects picked for Banner-UMC tower

Architects Interview March 2015
Mike caught up with Sam from Architects on the opening night of their UK tour to chat about ideas for new material, relentless touring - For More Interviews and Podcasts visit mikejamesrockshow.com.

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Architects - Gravedigger - London Roundhouse - 14/3/15
Heavy!

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Architects - Broken Cross (Live London Roundhouse)
14.3.2015 Roundhouse (London)

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Let #39;s Play Pier Solar and the Great Architects Part 12
Note: Near the end stuff started bugging out on my system, namely the recording software and the game. Luckily the video file wasn #39;t lost, but it stopped recording, so only the microphone...

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