Professional Liability Insurance
Professional Liability Insurance
(OP)
I have just started my own structural engineering firm and the insurance companies are quoting $15,000 to $25,000 a year for professional liability $1M coverage. And most wouldn't quote me because my revenue projections were below $100,000. if this typical? I am the only employee.
RE: Professional Liability Insurance
RE: Professional Liability Insurance
Mike McCann, PE, SE (WA)
RE: Professional Liability Insurance
Hydrology, Drainage Analysis, Flood Studies, and Complex Stormwater Litigation for Atlanta and the South East - http://www.campbellcivil.com
RE: Professional Liability Insurance
-> Careful how you fill out your application form.
RE: Professional Liability Insurance
David Simpson, PE
MuleShoe Engineering
In questions of science, the authority of a thousand is not worth the humble reasoning of a single individual. Galileo Galilei, Italian Physicist
RE: Professional Liability Insurance
RE: Professional Liability Insurance
Schinnerer is usually pretty reasonable from what I have seen. I would expect high quotes from Lloyds.
Do you design in a high seismic area?
Mike McCann, PE, SE (WA)
RE: Professional Liability Insurance
Coal sounds like a red flag to me. I think the Centralia mine fires, explosions, shoring failures, massive industrial accidents, etc.
Structural is a higher risk category than architecture, meaning you will pay 3% of net fee rather than 2%. 20% is way out of line. I have been insured through Hudson for the last couple of years, and before than Liberty Mutual.
RE: Professional Liability Insurance
Mike McCann, PE, SE (WA)
RE: Professional Liability Insurance
RE: Professional Liability Insurance
I do mostly forensic evaluation; however, there are changes in my state's legislation that might make me re-think all of this. Morons in legislature!
RE: Professional Liability Insurance
Robert Billings
www.newrivereng.com
RE: Professional Liability Insurance
B+W Engineering and Design | Los Angeles Civil Engineer and Structural Engineer http://bwengr.com
RE: Professional Liability Insurance
Dont need to be member to get a quote. Do need to be one to purchase.