Summary

Architects and engineers have enjoyed "soft" insurance market conditions recently, but the memory of the past "hard" market is still fresh in their minds and they want to know how long current competitive conditions will last. The answer is that there is no way to tell. This article examines the reasons for and against a near-term market turn, and advises that design firms take action now to protect themselves against an eventual hardening market.

David H. Collings is Senior Vice President with the Johnson & Higgins ConstructionGroup, Atlanta, Georgia.