The insurance market for construction firms, architects and engineers appears to be hardening, according to the latest Lockton Market Update.

U.S. Risk Insurance Group, the eighth largest managing general agency and surplus line wholesaler in the nation, acquired American Special Risk Insurance Services to expand its California presence.

February’s composite rate for U.S. property-casualty insurance coverages showed a 5% decline, according to MarketScout’s monthly analysis.

There are a number of risks which, because of the nature of their business, are placed into a claims-made policy instead of a traditional occurrence policy. Many Professional Liability policies – including Errors & Omissions policies – are written on a claims-made basis. Some types of manufacturing risks are also written on a claims-made policy, so an underwriter has a better feel for a risk from year to year. Retro dates are an important consideration when a claims-made policy is written.

The W.N. Tuscano Agency, a Greensburg, Pa.-based insurance wholesaler and surplus lines broker, added a new professional liability division that is working with agents throughout the mid-Atlantic and surrounding states.

The recently formed environmental unit of The Beazley Group has launched its first environmental products designed to meet the evolving needs of the environmental services industry.