Due to the unprecedented decline in the construction industry, Schinnerer has implemented a change in calculating the exposure base for design firms in our Architects, Engineers and Consultants professional liability programs. The new exposure base for these firms is now the billings for the most recently completed 12 month period prior to renewal.
For many firms that have seen a decline in billings over the past 12 months, this change may result in lower premiums.
The change in exposure base calculations is effective on a going forward basis and applies to our programs for Architects & Engineers, Land Surveyors, Landscape Architects, Specialty Construction Consultants and Environmental Consultants.
Please read our recent press release on this beneficial change for more information.
If you have any questions please feel free to contact your underwriter or call 301-961-9800.