Just add water: architecture startups!


Insurance Stats
April 26, 2013, 6:27 pm
Filed under: Startup

Received some interesting stats on Insurance from our carrier:

(who’dve thought “interesting” and “insurance” could be in the same sentence!)

Firms with billings less than $500,000

    • Average size of claims                $150,000
    • Average Limits                              $600,00 per claim/ $1m aggregate

Firms with billings  btw. $500k-$1m

    • Average size of claims              $220,000
    • Average Limits                            $1.5m per claim

Frequency of Claims per 100 firms

    • Ave. # of claims per year       21
    • #claims for engineers            24

Disciplines with highest chance of claims

    • Architects                                   29%
    • Structural Engineers              24%
    • Civil Engineers                          16%

Programs with the highest chance of claims

    • Condominiums                       28%
    • Residential                               19%
    • Public Projects                        19%
    • Schools                                      13%

Doesn’t it make you want to be a civil engineer designing schools?!

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