Owner Let Insurance Laps
Owner Let Insurance Laps
(OP)
I have just found out that the owner of our small firm let the our liability insurance laps. It is currently being reinstated, with no loss of coverage.
My question is how or could this have impacted me, as a PE working for the company and signing documents? If a claim had been made, would I have experienced more potential liability since there was no insurance at the time?
My question is how or could this have impacted me, as a PE working for the company and signing documents? If a claim had been made, would I have experienced more potential liability since there was no insurance at the time?
RE: Owner Let Insurance Laps
I'm not sure where you are located, but in most states in the US, unless you have a written indemnification from your employer, you can be sued without regard to your firms liability position. Well, actually you can still be sued even if you have an indemnity agreement...they just have to provide defense and coverage for it.
RE: Owner Let Insurance Laps
TTFN
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Chinese prisoner wins Nobel Peace Prize
RE: Owner Let Insurance Laps
Mike McCann
MMC Engineering
RE: Owner Let Insurance Laps
There is a way to have the insurance company notify you personnaly of a pending lapse in service. When it gets straightened out I would talk to the insurance agent about implementing that feature.
David
RE: Owner Let Insurance Laps
Pockets = assets, particularly cash. When it's said that some company has deep pockets, it means they can pay a large sum if successfully sued...
Good on ya,
Goober Dave
RE: Owner Let Insurance Laps
TTFN
FAQ731-376: Eng-Tips.com Forum Policies
Chinese prisoner wins Nobel Peace Prize
RE: Owner Let Insurance Laps
I didn't pay attention to the handle, my bad...
Goober Dave