One of the companies I own is a mechanical contracting company. We have "engineering" in the name. I'm the responsible PE in charge on the certificate of authorization. I just found out today that in a cost cutting move, the two other partners (non PE's) allowed the professional liability policy to lapse 4 months ago. After I filled out the renewal form, they simply didn't write the check. I've sent out quite a few proposals in that time, and completed work.
I'm not comfortable operating without the PL policy, but our state doesn't require it. Any one else ever run it this issue, or am I the only moron who has non-PE partners?
Red Flag Submitted
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