Stuckey’s niche insurance program for architects and engineers is designed for firms with less than $1,500,000 in annual revenue. The new program joins Stuckey’s extensive list of business insurance products developed for highly-specialized service professionals with coverages not included in standard policies.
In the architectural and engineering (A&E) field, approximately 87% of firms in the $11 billion industry generate $1.5 million or less in annual revenue. As a record number of layoffs are announced at large companies nationwide, many professional architects and engineers are forming small consultancies or pursuing work as independent consultants, increasing the percentage of firms with this “small business” model. In response to the unique risks these firms face, Stuckey & Company has introduced Aspire A&E, a specialized Professional Liability (also called Errors and Omissions) insurance program.
Click here for details about Aspire A&E.
According to Dwight Stuckey, president of Stuckey & Company, the Aspire A&E program is unique because it also addresses the technical aspects of the risks commonly faced by architects and engineers. He believes his firm’s experience with Errors and Omissions insurance for IT professionals helped strengthen the coverages of this program. “Architects and Engineers are very comfortable with technology, and rely on it for critical aspects of their business,” he says. “Our current underwriting is focused on speaking and understanding technical language and the associated risks. Very few Managing General Agents are as familiar with tech-centric programs as we are.”
The target accounts for Aspire A&E will be micro businesses with $1,500,000 or less in revenue located in any state, except Alaska and Hawaii. Target engineering disciplines include: Acoustical Engineering, Architecture, Civil Engineering, Computer Engineering, Land Surveying, Master Planning, Electrical Engineering, Forensic Consulting, HVAC, Interior Design, Communications Engineering, Landscape Architecture, Construction Management “Agency,” Mechanical Engineering, Software Engineering and Traffic/Transportation Engineering. Restricted disciplines include: Construction Management “At-Risk,” Environmental Engineering, Biomedical Engineering, Geotechnical Engineering and Structural Engineering.
Click here for a FREE list of Architect & Engineer leads in your market!
Please include your address, including zip code, in your e-mail.
The direct underwriting staff at Stuckey and Company has over 70 combined years of experience in professional liability and commercial lines underwriting. “The A&E industry is under-served by providers with an efficient process,” Stuckey says, “because there are few products that combine tailored coverage and ease of doing business. We created Aspire A&E to meet those needs, and to give our agents a competitive program that will help them win business,” he concludes.
