Victor O. Schinnerer & Company, an underwriting manager of specialty insurance, has expanded its professional liability insurance program for architects and engineers (A&E).
Brokers can now procure up to $35 million in coverage on behalf of qualified and eligible A&E clients with more than $10 million in annual revenue, including project-specific risks. Schinnerer has added an additional $15 million in capacity from Aspen Insurance to its existing $20 million program to meet the needs of large A&E firms in the US.
According to Brian Hanuschak, president of Victor North America, architects and engineers have been seeking higher limits to address general market contraction and price adjustments in the sector. By working with CNA, and now Aspen, Schinnerer can provide the additional capacity needed for large firms.
Aspen will provide admitted and non-admitted capacity.
Schinnerer’s current large account A&E professional liability program serves design and construction firms with $5 million or more in revenue and continues to be written and issued on an admitted basis through A-rated CNA Insurance Companies.
Schinnerer serves more than 46,000 insureds in various specialty industries through independent insurance agents and brokers.
Victor O. Schinnerer & Company is part of Victor Insurance Holdings, the global managing general underwriter.
Aspen provides reinsurance and insurance coverage to clients in various domestic and global markets through wholly-owned subsidiaries and offices in Australia, Bermuda, Canada, Singapore, Switzerland, the United Arab Emirates, the United Kingdom and the United States.
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