Full Circle Newsletter
An e-Newsletter for the Clients and Friends of C.T. Hsu + Associates, P.A.

April 2005


Industry News

Insurance Against Terrorism - Businesses are asking Congress to extend the 2002 law that makes terrorism risk insurance more widely available. It is set to expire on December 31, 2005. Under the Terrorism Risk Insurance Act - enacted following September 11, 2001 - the federal government shares in 90 percent of "insured losses" above the insurer's annual deductible, up to an aggregate limit of $100 billion. The ability of the real estate sector to obtain terrorism insurance for building projects has major implications for the design and construction industries, particularly in areas that are at a high risk of terrorist attack. (Source: The AIA Angle. June 9, 2005)

Qualifications Over Costs - A nationwide poll of voters found that only 11 percent agreed with the viewpoint that "architects and engineers who are hired by government agencies to design and construct public buildings always should be awarded to the lowest bidder in order to save money." Conversely, a strong 88 percent agreed with the contrary statement, "Because public health and safety is at stake, these contracts should be awarded by selecting the best qualified architects and engineers and then negotiating the best possible fee."

The findings are further support for qualifications-based selection (QBS) of architects and engineers in government procurement as incorporated in the federal Brooks Act. Forty-seven of the nation's 50 states have passed the Act in some form for public procurement projects. The survey was sponsored by the AIA Center for Communities by Design and the AIA Government Advocacy Team. (Source: The AIA Angle. June 9, 2005)

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