2B — May 25 - June 7, 2018 — Owners, Developers & Managers — M id A tlantic

Real Estate Journal


O wners , D evelopers & M anagers RT New Day introduces 2018 market update Environmental &Construction- related professional liability trends

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T New Day has un- veiled the 2018 Market Update, an annual as-

issues for construction profes- sionals and owners.” “Our primary goal is to help our clients devise the best pos- sible risk management strate- gies in the ever-changing en- vironmental and construction- related professional liability industry,” adds Jeff Slivka, RT New Day’s president – National Environmental and Construction Professional Practice. “All of our experts had a hands-on roll in analyz- ing present market conditions and reporting on the policy enhancements and introduc- tions that are best-suited for limiting the consequences of errors and omissions that are increasingly commonplace in today’s litigious commercial building environment.” The 2018 Market Update offers a comprehensive over- view of the news and updates surrounding Architects & Engineers (A&E) Professional Liability, Contractor’s Profes- sional Liability (CPrL), Own- ers Protective Professional Indemnity (OPPI), Pollution Legal Liability (PLL), Con- tractor’s Pollution Liability (CPL), General Liability/Pol- lution Legal Liability (CGL/

PLL) and General Liability/ Contractor’s Pollution Liabil- ity/Professional Liability (GL/ CPL/PL) coverage. Highlighted within each section are coverage updates including: rate, capacity and claims information; buying motivators; and underwriting and coverage updates. Go- ing into 2018, RT New Day sees a generally stable but competitive marketplace with many carriers including new entries vying for increased market share. For instance, the underwriting trend of new PLL business will continue to evolve with markets monitor- ing their offerings for various risk types. In other specific areas: • CPrL coverage expansions will continue with competitive rates, although the frequency and severity of claims are ex- pected to rise in the areas of civil, healthcare, commercial building, and habitational projects • CPL offerings will remain abundant with expanding terms. Leading motivators will include pollution insurance re- quirements with higher limits continued on page 12B

sessment of environmen- tal and con- struction-re- lated profes- sional liabil- ity industry trends and challenges. Dedicated to

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helping agents, brokers, and their clients navigate the complex commercial insurance marketplace, the 2018 Market Update provides the informa- tion necessary for identifying optimal risk management solutions. “Each year, we survey our expert staff to define the state- of-the-marketplace and offer insights into this highly-spe- cialized field,” said Jefferey Lejfer, president at RT New Day. “In addition to identify- ing specific market trends, the 2018 Market Update reviews the strategies needed to over- come challenges and protect against the risks that can potentially financially cripple businesses, delay projects, and create long-term credibility

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