In terms of insurance for design professionals, Fenner & Esler is a leading choice as an experienced architect & engineers insurance company. Every structural engineer in New Mexico needs to have structural engineers professional liability, or errors and omissions insurance, aside from the company’s size. Quality structural engineer insurance provides professional financial protection to cover any claim of negligence or breach of contract which might arise. Fenner Esler is your best choice when you’re looking for a professional liability insurance broker. We are specialists in dealing with the insurance needs of design professionals, including structural engineers and engineers.
When design professionals make the error of going without the services of an architect & engineers insurance company they quickly find they are not eligible to bid on high value contracts. Having structural engineer insurance is typically a requirement as it pertains to bidding on the great majority of state and federal contracts. Other engineers opt to rely on a project policy, something that might help them win smaller contracts, but these policies have inordinately 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 money before the policy starts to cover any litigation-related cost. A small firm would go bankrupt trying to meet that deductible and an independent structural engineer could be ruined. We have a number of experts that specialize in structural engineers insurance whose main job is ensuring that our clients are safeguarded by their policy at all times and need not suffer any unaffordable costs.
Structural Engineers Insurance Brokerage
The chance of a lawsuit alleging that an omission or error in a building or structure that they have designed is responsible for causing property damage or personal injury is a situation faced by even the most skilled structural engineer. For the most part this kind of legal action is pursued a long time after a project is finished. The legal expense may be substantial even if the allegations of negligence turn out to be frivolous. Structural engineers insurance is necessary for the protection of individual structural engineers, in addition to engineering firms, from the devastating expense of omissions and errors litigation. Arrive at the right course of action by looking at the merits of the suit.
Structural Engineers Insurance Coverage
Every firm will benefit from having structural engineers EPLI. Even in the absolute most tightly knit structural engineer companies, employer-employee conflicts arise. Sometimes, these disputes are easily resolved, but the possibility also exists for a disagreement to escalate into claims of harassment or discrimination. The cost of litigating and settling employment practice lawsuits continues to rise each year, which can devastate a structural engineers firm that does not possess employment practice insurance for structural engineers. We’ve put together a team here at Fenner and Esler made up of leading risk management specialists to create employment practice liability insurance for structural engineers which takes into consideration the number of staff and outside contractors that work for the firm so that they can make sure that no structural engineer is ever under insured or over insured.
Structural Engineer Professional Liability Insurance
Don’t ever underestimate the how essential it is to obtain insurance from a qualified structural E&O insurance brokerage for engineers . While some engineers opt to go without this protection under the false assumption that the project owner’s insurance will give you protection in case of a claim, some find, frequently when a claim is made years later, that they aren’t protected. The others decide to store the funds themselves and self insure, only to find that the expense of litigation is substantially higher than they expected. We can offer comprehensive liability insurance coverage at Fenner & Esler. The possibility for settling claims or defending one’s self in court makes structural engineer PL Insurance complete necessity.
Structural Engineer Insurance
When asked why they opt out of engineer & architect insurance company many professionals mention the cost of the policies they’ve found online. This is because bigger companies can’t provide you personalized customization, and you wind up spending more for options that you won’t ever need. This is where Fenner Esler can help. Through our business knowledge and A-rated connections, we’re an independent structural engineer liability insurance brokerage that can help you to find a policy that will suit your needs just, whatever the size of your business. Structural engineers insurance that you can manage is the final result. Another benefit of using Fenner Esler is that our policies are scalable so that as the engineering company take on bigger projects, the limits of liability of the policy could be expanded. Something an independent structural engineer errors & omissions insurance brokerage like Fenner Esler can offer you is the ability to obtain insurance for a specific project. If you undertake just one huge job which will require more insurance, you can manage it without the need to update your regular plan.
Insurance Company Structural Engineers
You should treat selecting an architects & engineers insurance company exactly the same as though you were appointing a new partner for the business. Advice for risk management techniques is another benefit of using an independent professional liability insurance brokerage like Fenner Esler. For example, they provide assistance for young structural engineers about how to spread the risk of huge projects among the various experts. There are forces that will be beyond the structural engineers control, and an expert in structural engineers insurance will be able to help negotiate contracts to the structural engineer will assume minimal liability.
Structural Engineers Liability Insurance Coverage Brokerage
We have over three decades of experience as a quality independent structural engineer insurance company with specialists that create not only optimized insurance policies, but the most all-inclusive risk management plans to meet the requirements of our customers. We’re always evaluating proposals and contracts to be sure that our clients aren’t taking a risk with the amount of liability they may take on for any given project. We also keep our customers up-to-date on the latest advances in the best practices associated with risk management. Each customer receives our complete attention regardless of how big or small they might be. We believe our personal touch truly sets us apart from on-line structural errors & omissions insurance brokerages for engineers that just really appear if they want your money.