Fenner & Esler is a leading choice as an independent structural engineer and structural engineer insurance brokerage serving your needs as a design professional. Regardless of the size of a firm, all structural engineers in Connecticut 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 neglect or breach of contract which may arise. Fenner Esler is your best choice the only choice you need to make for a professional liability insurance brokerage. We aren’t simply brokers, but design professionals’ insurance experts, giving you the protection you need.
Structural Engineer Insurance
When structural engineers make the mistake of going without structural engineers insurance they find quickly they are not qualified to bid on high value contracts. The majority of federal and state contracts require structural engineers to have structural engineer insurance to even bid on a contract. Some engineers choose to depend exclusively on a project policy since this could help with gaining smaller contracts. The only negative is that the expenses on a lot of these policies could get extremely high. 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 starts to cover any litigation-related expense. A small company would go bankrupt attempting to meet that deductible and an independent structural engineer would be ruined. We’ve got a group of experts who specialize in structural engineer insurance whose chief job is making certain our clients are protected by their coverage at all times and don’t have to suffer any unaffordable expenses.
Structural Engineer Insurance Company
Even the most thorough structural engineers who follow all the industry’s rules to the best of their ability run the chance of a lawsuit alleging that some error or omission in a project they designed was responsible for property damage or physical injury. Typically this sort of legal action is pursued a great deal of time after the completion of the project. Even if the allegations of negligence are proved false, the price of litigation may be considerable. Structural engineer insurance is invaluable for protecting structural engineers that work by themselves, as well as engineering firms, from the catastrophic legal fees for omissions and errors litigation. Come up with the best way to deal with the situation by reviewing the merits of the suit.
Structural Engineers Insurance
Possessing structural engineer EPLI is important for any firm. Even in the absolute most tightly-knit structural engineer companies, employer-employee conflicts arise. Sometimes, these disputes are readily resolved, but the possibility also exists for a disagreement to escalate into allegations of discrimination or harassment. The costs of litigation and settlements for employment practice lawsuits are always rising, and this may wreak havoc on a structural engineers firm which has no employment practice insurance for structural engineers set up. We’ve put together a team here at Fenner and Esler comprised of leading risk management professionals to create structural engineers employment practice liability insurance that takes into account the amount of staff and outside contractors that work for the firm so that they can ensure that no structural engineer is ever under insured or over insured.
Structural Engineers Professional Liability Insurance Coverage
The importance of obtaining insurance from an independent structural engineer insurance company shouldn’t ever be underestimated. While some engineers select to go without this coverage under the false supposition that the project owner’s insurance will give you safety in case of a claim, some find, often when a claim is brought forth years after, that they are not protected. Others might opt to self-insure only to find that the expense of litigation and authorized defense is much greater than the structural engineer anticipated. The possibility for settling claims or defending one’s self in court makes structural engineers PL Insurance Coverage complete requirement.
Structural Engineer Insurance
Many beginning design experts realize that they opt out of insuring because the rates they often see for structural engineer insurance are so large. This is because larger businesses can’t provide you personalized customization, and you wind up spending more for options that you will never need. This is where Fenner Esler comes in. We can tailor for you a customized structural engineers policy from a number of A-rated carriers that is fitted to the wants of your company. This makes the premium for insurance a lot more affordable. Another benefit of using Fenner Esler is that our policies are scalable so that as the engineering firm take on larger jobs, the limits of liability of the policy can be expanded. In the occasion that a company is awarded a project much larger than their usual contracts, an insurance specialist from the professional liability insurance brokerage can arrange a per task structural engineers E and O Insurance coverage without the expense of expanding the coverage of the primary policy.
Insurance Broker Structural Engineers
You should always treat employing a structural engineer E&O brokerage just the same as though you were appointing a new team member for the company. As independent professional liability insurance brokerage specializing in O & E Insurance For structural engineers, Fenner Esler can offer an advantage with risk management advice. Many structural engineers need assistance with issues like spreading out the risk of huge projects to reduce the possibility of lawsuits, errors or omissions. Additionally, the structural engineers E & O Insurance specialist provides assistance during contract negotiations in terms of developing provisions to safeguard the structural engineer or design professional from liability when they are delays in a project that are beyond the control of the structural engineer.
Structural Engineer Insurance Company
Having more than thirty years of experience as an independent structural engineer E & O insurance broker our specialists not only create customized insurance policies to meet the requirements of our clients, but we also offer complete risk management services. For instance, we review each contract and proposal to ensure that our customers aren’t taking any risks on any of their jobs. We like keeping our customers well-informed on the very best risk management developments available. We take pride within the individual attention that we offer to all of our clients, something that sets us apart from on-line structural engineer E & O insurance coverage brokerage that just call you if they’re looking for money or a contract renewal.