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Fwd: Re: Limit of Liability

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You wrote: 
>>     By the way ASCE has very good rates for small companies and 
>>on E & O insurance. It is a fraction of what it used to be a few 
years ago.
>>      Tom Harris , SE
>>      Thousand Oaks, CA
>ASCE (Kirke-Van Orsdel) offers very good rates for companies with 
>anual billings of less than $100,000. As a matter of fact, their rates 
>more than half of the competion such as DPIC and CNA's underwriter.  
>billings of $100,001 the rates are more than double with no sliding 
>They offer limited or no help on contractual issues and there do not 
>the educational services that others provide/require. I have been told 
( by
>ASCE's competetors ) that there are some holes in their coverage. Also
>being in Iowa might have an impact on your representation if and when 
>need it.
>Back to the issue of limiting your Liability to your fee. I can not
>remember when I have had a client agree to this. Of course this would 
>great to get, but this seems somewhat unrealistic to me. I would never 
>such a contract. I have found that this clause is most often presented 
>engineers that do not have any insurance.  But, there is something to 
>said for this, in that no one is going to go after someone if they 
have no
>insurance or assets. I personally do not subscribe to this idea. Once 
>decide to go the insured route you can look forward to paying premiums 
>trailer premiums for the rest of your life. As an aside, I have been 
>that you can "homestead" your house up to certain limits if you feel 
>need to protect this asset, however, you will never be able to 
>get a loan or sell it until the homestead status is removed.
>Jeff Smith. S.E.
>phone: (415) 543-8651
>fax: (415) 543-8679
>email: smthengr(--nospam--at)
>Smith Engineering
>27 South Park
>San Francisco, CA 94107

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Richard Lewis, P.E.
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