RT Specialty’s Environmental and Construction Professional (RT ECP) Practice has released its 2024 Market Update. The report combines the collective knowledge of RT ECP professionals as well as insights from brokers and representatives from many leading carriers to provide a revealing look into the state of the marketplace and key factors shaping the construction insurance and risk management landscape. 

Liability insurance lines featured in the report include:

• Contractors Pollution Liability (CPL)
• Pollution Legal Liability (PLL)
• General Liability/Pollution Legal Liability (GL/PLL)
• General Liability/Contractors Pollution Liability/Professional Liability (GL/CPL/PL)
• Architects and Engineers Professional Liability (A&E PL)
• Contractors Professional Liability (CPrL)
• Owner’s Protective Professional Indemnity (OPPI)
• Real Estate Developers (RED) Professional Liability

The RT ECP team is dedicated to assisting agents, brokers, and their clients identify effective risk management solutions and adopt strategies to safeguard against potential exposures.

Among other insights contained in the report: 

• How and why limits may be eroding for project-specific professional liability
• Expected policy language restrictions in response to sustained social inflation
• Key CPL trends, including rate stabilization, strong limits and new market entrants
• Why PLL transaction volume dropped dramatically in 2023 compared to 2022, and what to expect for 2024
• Why the A&E PL market should anticipate rate pressure and limited capacity in 2024
• How businesses and their brokers can prepare for heightened underwriter scrutiny with respect to design and project type
• The latest trends and increased coverage options in the RED market 

“This Market Update is a must-read for anyone in our industry. It provides a comprehensive and thoughtful outlook of what to expect in the coming year, and it’s intended to assist brokers and their environmental and construction clients anticipate market conditions, prepare for renewals and secure competitive risk management solutions,” says Jeff Slivka, President, RT ECP. 

Download the RT ECP 2024 Market Update now.