Fenner & Esler is a leading choice in terms of structural engineers and structural engineer insurance from an independent brokerage. Regardless of the size of a company, all structural engineers in Pennsylvania need to have Professional Liability Insurance, or errors and omissions insurance for structural engineers. Quality structural engineer insurance provides professional financial protection to cover any claim of negligence or breach of contract which may arise. When you need a professional liability insurance company, your best choice is Fenner Esler. We are specialists in dealing with the insurance needs of structural engineers, engineers, and other design professionals.
Structural Engineer Insurance
Any structural engineer who chooses to take on a job while lacking structural errors and omissions insurance for engineers usually discovers suddenly that they’re not able to make a move for any high dollar contracts. Having structural engineer insurance is usually a requirement as it pertains to bidding on the vast majority of federal and state contracts. The engineers that hold their faith in a projects policy can obtain some smaller contracts in the beginning, but these run the risk of becoming very costly with each of the expenses they could incur. Worst-case scenario is that a claim is brought forth, which causes the structural engineer to pay at least $250,000 of their own hard-earned money before any policy begins to cover any litigation-related cost. A financial deficit this big can possibly cripple many small firms and any structural engineers that are self-employed. The team of experts that we employ can make sure the structural engineer insurance our customers pick has low rates to satisfy any budget, ensuring the operating success of the company.
Structural Engineer Insurance Company
Even the most thorough structural engineers who follow all the best practices of the industry run the risks of a lawsuit claiming that some omission or error in a project they designed was responsible for property damage or physical injury. Typically this type of legal action happens a great deal of time after a project is completed. The legal expense can be substantial even when the allegations of negligence turn out to be frivolous. Structural engineer insurance is invaluable to protect individual structural engineers, as well as engineering firms, from the devastating expense of omissions and errors litigation. Structural engineers insurance serves to protect structural engineers from the costs of litigation, as well as from the costs that come with legal settlement actions and issuing payment to the plaintiff in case the court sides against the firm or structural engineer. If it so happens that someone files a suit against the firm or structural engineer, the insurance company will secure legal representation to help with determining the merits of the suit to figure out the right course of action.
Structural Engineer Insurance Coverage
Possessing EPLI for structural engineers is important for any firm. Even in the absolute most tightly-knit structural engineer companies, employer-employee conflicts come up. Such situations have to be rapidly addressed because these disputes often have a detrimental influence on staff morale, and although many are resolved pretty easily, it is not difficult for these situations to get out of control. The cost of litigating and settling employment practice lawsuits continues to climb annually, which can devastate a structural engineers business that does not have structural engineers EPLI. Here at Fenner and Esler our experts craft a employment practice insurance for structural engineers policy that takes into consideration every aspect of your practice to ensure no structural engineers are ever over or under insured.
Structural Engineer PL Insurance Coverage
The importance of obtaining insurance from a qualified structural engineer PL broker cannot be underestimated. While some engineers prefer to go without this protection under the false assumption that the project owner’s insurance provides protection in case of a claim, some find, often when a claim is brought forth years later, that they aren’t protected. Others may opt to self-insure only to find that the cost of litigation and authorized protection is considerably greater than the structural engineer expected. The potential for settling claims or defending one’s self in court makes structural engineers E&O absolute requirement.
Structural Engineer Insurance
When asked why they opt out of structural engineers insurance many professionals mention the expense of the guidelines they’ve found online. This is because bigger organizations can not supply you individualized customization, and you end up paying more for services that you will never require. This is where Fenner Esler comes in. We can tailor for you a customized structural engineer policy from several A-rated carriers that is suited to the requirements of a small company. Structural engineers insurance which you can manage is the outcome. The circumstances of your E & O Insurance coverage are also in a position to be scaled relative to the kind of jobs you are accepting, in the event you suddenly discover you have much bigger jobs than anticipated. Something an independent structural engineer insurance broker like Fenner Esler will offer you is the ability to get insurance for a specific project. If you undertake a single huge job that may require more insurance, you can handle it without needing to upgrade your regular coverage.
Insurance Brokerage Structural Engineers
When searching for a structural engineer insurance company, it is useful to think about the process as similar to including somebody into your firm. Guidance for risk management methods is another advantage of using an independent professional liability insurance brokerage like Fenner Esler. Many structural engineers need assistance with issues like spreading out the risk of huge jobs to reduce the possibility of lawsuits, errors or omissions. There are forces that will be beyond the structural engineers management, and an expert in structural engineer professional liability insurance will be able to help negotiate contracts to the structural engineer will assume minimal liability.
Structural Engineer PL Insurance Company
We’ve got over 30 years of experience as a top independent structural engineers insurance brokerage with experts that create not only optimized insurance policies, but the most all-inclusive risk management programs to meet the requirements of our customers. For instance, we review each proposal and contract to ensure that our clients aren’t taking any risks on any of their projects. We like to keep our customers up to date on the best risk management developments available. We take pride within the individual focus that we offer to all our customers, something that sets us apart from online structural professional liability insurance brokerages for engineers that only contact you when they’re looking for money or a contract renewal.