Chevy Chase, MD- Victor O. Schinnerer & Company announces the release of its three-part benchmarking and claims studies for their Architects and Engineers in Schinnerer's Professional Liability program.
These risk management resources can be used to educate insureds, brokers and others involved in the design and construction industry, to more easily understand the associated risks and how to manage them.
Turning Risk Into Profit: Benchmarking and Claims Studies includes information on industry trends and emergency risk. It provides information that allows firms to compare themselves to their peers and examines a firm's experience with clients, project types, consultants, construction entities, fees and contracts. In addition to statistical information, there are case scenarios, risk management guidance and Schinnerer's risk management matrix to assist in identifying and responding to risk.
Schinnerer has developed additional information that will complement and expand upon the information in Turning Risk Into Profit, including:
Schinnerer's online benchmarking study, which contains:
- General claims information covering deductibles, limits and frequency of claims.
- Claims information for all size firms.
- Claims data that is analyzed within each billing and discipline category by:
- Project types that generated
- The highest frequency and severity, and
- Who is initiating the claim.
The third part of this study is Schinnerer's continuously updated library of claims studies. Claims trends are constantly analyzed to better understand the sources of risk and the impact of risk on design professionals and their projects
Victor O. Schinnerer & Company, Inc., is one of the largest and most experienced underwriting managers of professional liability and specialty insurance programs in the world. Schinnerer now serves more than 25,000 insureds in the design and construction industry through independent agents and brokers. Learn more at www.Schinnerer.com.