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RE: Risky Business

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-----Original Message-----
From: Caldwell, Stan [mailto:scaldwell(--nospam--at)halff.com]
Sent: Tuesday, July 30, 2002 3:49 PM
To: 'SEAINT Listserv'
Subject: Risky Business

I received the July, 2002 issue of Structural Engineer magazine (www.gostructural.com) today, and found a particularly interesting article on Page 11 entitled, "Study: structural engineering is the highest risk design discipline".  The subject study was undertaken by DPIC, a large professional liability insurer, based on their claims from 1996 to 2000.  This included a total of 8,687 claims, of which 990 were structural.  Here are some of the conclusions:
 
*  DPIC measures relative risk as claims paid divided by fees earned.  Structural engineers accounted for 16.1% of claims dollars paid, but earned only 6.7% of fees.  By comparison, civil engineers accounted for 21.5% of claims dollars paid, but earned 29.0% of fees.
 
*  The single highest risk category is a structural engineer working on a residential condominium project.  These projects accounted for 11% of all structural claims dollars paid.
 
*  Broken down by building system, structural claims included 14% for walls, 13% for foundations, 12% for beams and joists, and 10% for roofs.
 
*  The number of structural claims can also be broken down by type of claim, with 47% for property damage, 40% for economic loss, and 12% for bodily injury.
 
*  About 62% of structural claims were made by owners and clients, 25% by third parties, and 11% by contractors and subcontractors.
 
I suggest that you keep these numbers in mind the next time your client wants a deeply discounted fee on his urgent but highly innovative condominium project!
 
Best regards,
 
Stan R. Caldwell, P.E.
Dallas, Texas
 
*********************************************
Structural engineering is the art of molding materials
we don't wholly understand, into shapes we can't fully
analyze, so as to withstand forces we can't really assess,
in such a way that the community at large has no reason
to suspect the extent of our ignorance."     ...Jim Amrhein
*********************************************
 
 
 
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