Acec Business Insurance Trust

What Acec Business Insurance Trust does

ACEC Business Insurance Trust (ACEC BIT) is an insurance trust program established in 1983 to provide professional liability, cyber risk, and business insurance exclusively to member firms of the American Council of Engineering Companies (ACEC). The program is administered by Greyling Insurance Brokerage, a division of EPIC (Edgewood Partners Insurance Center), which provides specialty risk management, claims advocacy, contract review, and benchmark data analytics tailored to design professionals. The Hartford serves as the primary insurance carrier for professional liability and business package policies, while Markel Insurance Company underwrites the small-firm professional liability product and Coalition provides cyber risk insurance and monitoring services.

The technology layer consists of an insurance exchange platform with pre-negotiated policy terms and a Draftrs-powered online portal that enables engineering firms with under $1M in annual fees to obtain instant quotes, bind coverage, and pay premiums via credit card. Member-facing benefits include deductible assistance (up to $1,000 per claim, $10,000 annual maximum), risk management training, legal contract review by industry attorneys, and educational webinars, with annual billing on a recurring subscription-style premium model. The go-to-market is sales-led through the ACEC national and state member organization network, with the program positioned as an exclusive member benefit rather than a broadly marketed commercial offering.

Revenue mechanics operate on commissions and fees from placed insurance premiums across the carrier stack. Customer segments split between enterprise engineering firms served through Greyling's broker-led motion and small engineering firms served through the Draftrs self-serve channel, with vertical specialization (engineering/A&E) as the defining segmentation dimension. The organization operates as a private trust with no disclosed funding rounds, parent company, or public ownership indicators; headquarters are in Alpharetta, Georgia, and operations are limited to the United States.

Name

Acec Business Insurance Trust

Legal name

ACEC Business Insurance Trust

Website

https://acecbit.org

Company type

Private

Founded year

1983

Operating status

Operating

Headcount range

11–50 employees

Short description

ACEC Business Insurance Trust is an insurance trust program serving ACEC member engineering firms with professional liability, cyber risk, and business insurance, administered by Greyling Insurance Brokerage in partnership with The Hartford, Markel, and Coalition.

Ownership category

akta.pro rank

Product category

Specialty Insurance Brokerage for Engineering Firms

NAICS

Insurance Agencies and Brokerages (52421), Insurance Agencies and Brokerages (524210)

SIC

Insurance Agents, Brokers & Service (6411)

akta.pro primary industry

Specialty Insurance Brokerage (Marine, Aviation, Cyber, Professional Lines) (FSAEADAJ)

akta.pro secondary industries

Professional Liability (E&O) (FSAJAGAC), Technology Errors & Omissions (Tech E&O) / Professional Liability (FSAJAOAC), Environmental / Pollution Liability (FSAJAGAF)

Keywords

• Professional liability insurance
• Engineering firm insurance
• Business insurance trust
• Cyber risk insurance
• Insurance brokerage services

Headquarters

HQ city

Alpharetta

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Personnel, Marketing or Sales, Technology or R&D, Others

Revenue model

1. Insurance Premiums: The ACEC Business Insurance Trust generates revenue through insurance premiums placed with carrier partners including The Hartford and Markel Insurance Company. The program serves as an intermediary between engineering firms and insurers, earning commissions or fees on placed premiums.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels4 records

Core offering

ACEC Business Insurance Trust is an exclusive insurance program for ACEC member engineering firms that delivers professional liability, cyber risk, and business (property and casualty) insurance through the program's broker, Greyling Insurance Brokerage, with The Hartford as the primary carrier. The trust supplements policies with risk management training, contract review by industry attorneys, claims advocacy, deductible reimbursement assistance, and member benefits such as convention reimbursement and educational webinars. Small engineering firms (under $1M in fees) can additionally obtain instant professional liability quotes and bind coverage online through the Draftrs platform, underwritten by Markel Insurance Company.

Product overview

ACEC Business Insurance Trust offers a portfolio of insurance solutions designed specifically for engineering firms, delivered through strategic partnerships. The core offerings include a Professional Liability Insurance Exchange featuring pre-negotiated terms with leading carriers through The Hartford, a Cyber Risk Insurance Solution partnered with Coalition for proactive digital threat protection, Business Insurance covering property and casualty needs, and a Small Firm Professional Liability Insurance program through Draftrs for firms under $1M in fees. Greyling serves as the program's broker and program administrator, providing risk management expertise alongside these insurance products.

Differentiator

Problem solved

Functional benefit

Brands

• Greyling: A specialty insurance brokerage and risk consulting firm dedicated to serving architects, engineers, contractors, environmental service firms and law firms; a division of EPIC and the broker/program administrator for ACEC BIT
• Coalition

Products and services

• Professional Liability Insurance Exchange Pre-negotiated, best-in-class professional liability insurance with policy terms, conditions, and enhancements from leading carriers, featuring competitive pricing through the program's relationship with The Hartford. Targeted at ACEC member engineering firms.
• Cyber Risk Insurance Solution Cyber risk insurance offered in partnership with Coalition, providing proactive defense against hacks and viruses, free risk assessments, 24/7 security monitoring, alerts of cyber incidents, and access to security experts. Targeted at ACEC member engineering firms evolving to virtual workflows.
• Business Insurance Specialized business insurance coverages including property and casualty insurance offered through The Hartford in partnership with Greyling, with access to additional insurers for firms outside the standard Hartford program. Targeted at ACEC member engineering firms.
• Small Firm Professional Liability Insurance Instant-bind professional liability coverage for small engineering and design firms with less than $1M in annual fees, administered through partnership with Draftrs, underwritten by Markel Insurance Company with 6-month and 12-month policy options. Excludes geotechnical and structural engineers.

Named customers3 records

Segments2 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

Five partnerships are on record, tiered core.

• Greyling Insurance BrokeragecoreChannel Partner/ Reseller/ Distributor · 1 January 1983Greyling, a division of EPIC, is the broker and program administrator for the ACEC Business Insurance Trust. As a specialty insurance brokerage and risk consulting firm dedicated to serving architects, engineers, contractors, environmental service firms and law firms, Greyling provides benchmark data analysis, timely advice, and leadership from former design firm professionals. The partnership has been in place since the program's inception in 1983.
• The HartfordcoreChannel Partner/ Reseller/ DistributorThe Hartford is the primary insurance carrier partner for the ACEC BIT program, providing competitive and exclusive insurance rates for ACEC member firms through the BIT program. The partnership offers pre-negotiated, best-in-class policy terms, conditions, and enhancements for professional liability and business insurance coverage.
• CoalitioncoreTechnology or IntegrationCoalition is a cyber risk management firm partnered with ACEC BIT and Greyling to offer cyber insurance solutions providing proactive defense against hacks and viruses. The partnership includes free cyber risk assessments, 24/7 security monitoring, alerts of cyber incidents, and access to security experts.
• DraftrscoreTechnology or IntegrationDraftrs is a technology-enabled professional liability program administrator that enables small engineering firms with less than $1M in fees to get instant quotes and bind coverage online. The platform offers transparent and competitive coverage with terms and pricing developed for small firms, with credit card payment capability and direct policy access.
• Markel Insurance CompanycoreChannel Partner/ Reseller/ DistributorMarkel Insurance Company is the specialist insurer underwriting small firm professional liability coverage through the ACEC BIT Draftrs platform. Markel has over 40 years of experience insuring professional service firms and is rated 'A' (Excellent) by AM Best. All policies are admitted and underwritten by Markel.

Scale indicators3 records

Recent moves6 records

Expansion highlights4 records

Direct peers

• Ames & Gough: Specialty insurance brokerage and risk management firm dedicated to architects, engineers, and contractors; comparable specialty brokerage model serving the same A&E customer base.
• Victor O. Schinnerer & Company: One of the largest managing general agents underwriting professional liability for design professionals (A&E); historically a primary distribution competitor for engineering firm PLI.
• Lockton (A&E Practice): Large specialty insurance brokerage with a dedicated architects & engineers practice; competes with Greyling for mid-to-large engineering firm accounts and offers analogous claims advocacy.
• Beazley (A&E Professional Liability): Specialty insurer underwriting architects and engineers professional liability on an admitted and surplus-lines basis; competes with ACEC BIT's Hartford/Markel carriers for design firm PLI.
• EPIC Insurance Brokers & Consultants: Parent organization of Greyling (the ACEC BIT program administrator); offers the same specialty A&E brokerage capabilities at broader scale through other programs.
• Design Professionals Insurance Company (DPIC): Specialty insurer/broker focused exclusively on professional liability for architects, engineers, and design professionals; competes head-to-head with ACEC BIT for engineering firm PLI placements.
• Hiscox (Architecture & Engineering): Specialty insurer and broker serving architecture and engineering firms with professional liability and small business coverages; directly competes for small/mid engineering firm PLI.

Broad incumbents

• AXA XL (Design Professionals): Large global insurer with architects & engineers professional liability capability; competes for mid-to-large engineering firm placements via national broker channels.
• CNA Financial (Design Professionals): Large multi-line carrier with a long-standing architects & engineers professional liability practice; competes broadly for engineering firm accounts through agency/broker distribution.
• Travelers (A&E Professional Liability): Major US P&C carrier offering professional liability for design professionals as part of a broader commercial insurance portfolio; competes with ACEC BIT carriers for engineering firm accounts.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/acec-bit

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Acec Business Insurance Trust