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Why All Structural Engineers Should Have Structural Engineers O and E Insurance

May 15, 2013 | Author: | Posted in INTERNET

Regardless of the size of a company, all structural engineers need to have Professional Liability insurance, or errors and omissions insurance for structural engineers. While some engineers prefer to go without this protection under the false assumption that the project owner’s insurance will give you safety in case of a claim, some find, frequently when a claim is made years later, that they are not covered.Others may choose to self-insure only to find that the expense of litigation and lawful defense is much greater than the structural engineer anticipated. The requirement for structural engineers PL Insurance becomes apparent when one considers all these aspects.

The Benefits of an Independent Professional Liability Insurance Brokerage

Many beginning design professionals realize that they choose out of insuring because the rates they frequently see for Omissions and Errors Insurance for structural engineers are so large. This is because bigger organizations cannot provide you individualized customization, and you end up paying more for services that you won’t ever require. Through their market knowledge and A-rated connections, an independent professional liability insurance brokerage is ready to find a policy that will fit your needs exactly, whatever the requirements of your company. PLI for structural engineers that you can manage is the final result. Another advantage of this sort of policy is that it is scalable so that as the structural engineering firm take on bigger projects, the limits of liability of the policy may be enlarged. Something an impartial professional liability insurance brokerage will offer you is the power to obtain insurance for a particular job. If you take on just one large project that may require more insurance, you can handle it without the need to upgrade your regular plan.

A Professional Liability Insurance Brokerage Can Reduce Risk

An independent professional liability insurance brokerage can offer an advantage with risk management guidance. It’s feasible for them to help you minimize the risks in future endeavors by spreading out the risks within the contract stage. No firm should ever forego PL Insurance for structural engineers, no matter what their size.

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