Need a book? Engineering books recommendations...

Return to index: [Subject] [Thread] [Date] [Author]

Fwd: Re: Limit of Liability

[Subject Prev][Subject Next][Thread Prev][Thread Next]
You wrote: 
>
>
>>     By the way ASCE has very good rates for small companies and 
individuals
>>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 
gross
>anual billings of less than $100,000. As a matter of fact, their rates 
are
>more than half of the competion such as DPIC and CNA's underwriter.  
For
>billings of $100,001 the rates are more than double with no sliding 
scale.
>They offer limited or no help on contractual issues and there do not 
have
>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 
you
>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 
be
>great to get, but this seems somewhat unrealistic to me. I would never 
sign
>such a contract. I have found that this clause is most often presented 
by
>engineers that do not have any insurance.  But, there is something to 
be
>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 
you
>decide to go the insured route you can look forward to paying premiums 
and
>trailer premiums for the rest of your life. As an aside, I have been 
told
>that you can "homestead" your house up to certain limits if you feel 
you
>need to protect this asset, however, you will never be able to 
refinance,
>get a loan or sell it until the homestead status is removed.
>Regards,
>
>Jeff Smith. S.E.
>phone: (415) 543-8651
>fax: (415) 543-8679
>email: smthengr(--nospam--at)sirius.com
>
>Smith Engineering
>27 South Park
>San Francisco, CA 94107
>
>
>



--- Internet Message Header Follows ---
Received: from server1.seaoc.org (bqe.com [204.140.166.34])
	by host1.texramp.net (8.8.5/8.8.5) with SMTP id NAA12970
	for <rlewis(--nospam--at)techteam.org>; Sun, 6 Apr 1997 13:54:12 -0500 (CDT)
Received: from dfw-ix8.ix.netcom.com by server1.seaoc.org (NTList 3.02.10) id
la016703; Sun, 6 Apr 1997 11:52:04 -0700
Received: (from smap@localhost)
          by dfw-ix8.ix.netcom.com (8.8.4/8.8.4)
	  id NAA08604 for <seaoc(--nospam--at)seaoc.org>; Sun, 6 Apr 1997 13:49:45 -0500 (CDT)
Date: Sun, 6 Apr 1997 13:49:45 -0500 (CDT)
Message-Id: <199704061849.NAA08604(--nospam--at)dfw-ix8.ix.netcom.com>
Received: from lvx-nv10-14.ix.netcom.com(205.186.169.142) by
dfw-ix8.ix.netcom.com via smap (V1.3)
	id sma008588; Sun Apr  6 13:49:21 1997
From: quinnair(--nospam--at)ix.netcom.com (Patrick F. Quinn)
Subject: Re: Limit of Liability
To: seaoc(--nospam--at)seaoc.org
Reply-To: seaoc(--nospam--at)seaoc.org
Error-To: seaoc-ad(--nospam--at)seaoc.org
X-Loop: seaoc(--nospam--at)seaoc.org
X-Info: [SEAOC]
Owner: seaoc-ad(--nospam--at)seaoc.org
X-POP3-Rcpt: seaoc-ad(--nospam--at)seaoc.org
X-Sender: seaoc-ad(--nospam--at)seaoc.org
Precedence: list
X-ListMember: rlewis(--nospam--at)techteam.org [seaoc(--nospam--at)seaoc.org]


__________________________________________________

Richard Lewis, P.E.
Missionary TECH Team
rlewis(--nospam--at)techteam.org

The service mission like-minded Christian organizations
may turn to for technical assistance and know-how.