Fenner & Esler is a top choice as an independent engineer & architect insurance company serving your requirements as a design professional. Regardless of the size of a company, all structural engineers in New Mexico need to have Professional Liability Insurance, or errors and omissions insurance for structural engineers. structural engineers and engineering firms need financial safety, and professional liability insurance, especially for structural engineers, provides this protection against breach of contract or negligence accusations. Fenner Esler is your top choice the only choice you need to make for a professional liability insurance broker. We’re not just brokers, but experts at dealing with the needs of structural engineers, giving you the protection you need.
Any structural engineer who chooses to take on a project without structural engineer insurance generally discovers suddenly that they’re ineligible to make a move for any high value contracts. Virtually all contracts, federal and state, require structural engineers insurance prior to letting a structural engineer place a bid for a contract. Other engineers choose to rely on a project policy, something that may help them win smaller contracts, but these policies have amazingly high deductibles. Worst-case scenario is that a claim is made, which causes the structural engineer to pay at least $250,000 of their own hard-earned cash before any policy starts to cover any litigation-related expense. A small firm could go bankrupt attempting to meet that deductible and an independent structural engineer could be ruined. The team of specialists that we employ can ensure the structural engineers insurance our customers choose has low rates to satisfy any budget, ensuring the operating success of the company.
Structural Engineer Insurance Broker
Even the most conscientious structural engineer who sticks to all the industry’s best practices faces the chance of a lawsuit alleging that an error or omission in a project they designed resulted in property damage or personal injury. For the most part such litigation is pursued a long time after the completion of the project. The legal expense will be substantial even when the allegations of negligence end up being frivolous. Structural engineer insurance is necessary to protect structural engineers individually, in addition to engineering firms, from the catastrophic legal fees for omissions and errors litigation. Figure out the best way to deal with the situation by evaluating the merits of the suit.
Structural Engineer E&O
Every firm can benefit from possessing employment practice insurance for structural engineers. Even in the most tightly knit structural engineer companies, employer-employee conflicts happen. Such scenarios need to be promptly addressed because these disagreements often have a damaging impact on staff morale, and even though most are resolved pretty easily, it is not difficult for these situations to get out of control. The price of litigating and settling employment practice lawsuits continues to increase every year, which can destroy a structural engineers company that does not have structural engineers employment practice liability insurance. We have created a team here at Fenner and Esler comprised of top risk management professionals to design structural engineer employment practice liability insurance which takes into consideration the number of staff and outside contractors that work for the firm so they can ensure that no structural engineer is ever under insured or over insured.
Structural Engineer Insurance
Don’t ever underestimate the how essential it is to obtain insurance from an independent structural engineer E & O insurance brokerage . While some engineers select to go without this protection under the false supposition that the project owner’s insurance will provide safety in case of a claim, some find, frequently when a claim is brought forth years after, that they are not covered. Others may choose to self-insure only to discover that the cost of litigation and legal protection is considerably greater than the structural engineer anticipated. The potential for settling claims or defending one’s self in court makes PL for structural engineers absolute requirement.
Structural Engineer Insurance
Many individuals find architect & engineer insurance online and find it is far more than they anticipate. Typically, the PL Insurance plans provided on the Internet are one size fits all plans that provide more coverage than what’s desired by small firms. 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 for the needs of a small company. This makes the premium for your insurance much less expensive. The circumstances of your PL Insurance coverage are also in a position to be scaled relative to the kind of work you are accepting, in the event you suddenly discover you have bigger jobs than expected. In the occasion that a business is given a project much bigger than their normal contracts, an insurance specialist from the professional liability insurance brokerage can organize a per task structural engineers O and E Insurance policy without the expense of enlarging the coverage of the main policy.
Insurance Broker Structural Engineers
This process is no less essential than including a new team member to your firm or business. Advice for risk management techniques is another advantage of using an independent professional liability insurance brokerage like Fenner Esler. For example, they offer assistance for young structural engineers about how to spread the risk of huge projects among different specialists. When there are delays in a project beyond the structural engineer’s control, the Errors and Omissions Insurance for structural engineers expert may also assist with negotiating contract terms to keep them from assuming liability.
Structural Engineer Liability Insurance Broker
We’ve got more than three decades of experience as a quality independent structural engineers insurance company with experts that create not only optimized insurance policies, but the most all-inclusive risk management plans to meet the requirements of our customers. We’re constantly reviewing proposals and contracts to be certain that none of our customers are taking a risk with the amount of liability they might assume for any specific job. We like to keep our clients current on the very best risk management developments available. Every customer is treated with our complete focus regardless of how large or small they might be. We believe our personal touch really sets us apart from online structural engineer E & O insurance company that just really appear if they’re looking for money.