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Re: E/O Insurance

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Hi Roger,

I do not know if rates will climb to the levels you indicate, but I can say
that rates have been increasing.  Our rates have increased in disproportion
to our revenue increase for the past two years.  The first year the agents
were singing some song and dance number and trying to blame the increase on
Sept. 11., rather than the poor performance of the Markets.  At least this
past year the increases were not accompanied by the lame excuses.

As a side note, I know a lot of you "go bare" without E/O insurance.  I am
note sure how you accomplish that, we could not perform the projects we do
without E/O insurance.  Do you limit your projects to those without E/O
insurance requirements?  From my perspective, E/O insurance is one of those
unavoidable expenses in a captured market.  I can complain when the rates go
up, but there are not a lot of options beyond that.

Paul Feather PE, SE
pfeather(--nospam--at)SE-Solutions.net
www.SE-Solutions.net
----- Original Message ----- 
From: "Roger Turk" <73527.1356(--nospam--at)compuserve.com>
To: <seaint(--nospam--at)seaint.org>
Sent: Thursday, November 20, 2003 5:58 PM
Subject: Re: E/O Insurance


> Scott Maxwell wrote:
>
> . > You can try www.dpic.com.  The site will "point" you to a local agent.
>
> just before McGraw-Hill Construction Mail wrote:
>
> . > XL America Buys DPIC Renewals as Professional Liability Insurer Exits
> . > (enr.construction.com)
> . > In the wake of deteriorating finances at well-known professional
> . > liability insurer DPIC Cos. and its parent company, XL America Inc.
has
> . > acquired the policy renewal rights for 11,000 architects, engineers
and
> . > environmental consultants insured by the firm. The acquisition ends
some
> . > uncertainty for DPIC's policyholders, but they may not all be picked
up
> . > when policies expire.
>
>
>http://click.construction.com.email-publisher.com/maabGGtaa2j0ha4EeiQeaeL9G
V/
>
> So, one of the "Big Two" is discontinuing professional liabilty insurance
for
> Architects and Engineers.  IIRC, this firm was created in the early 70's
to
> provide competitive rates as an alternative to *the* big carrier,
CNA/Victor
> O. Schinerer.  Does this mean that E&O rates for small structural firms
will
> once again touch the 12 to 15 percent of gross annual billings as it once
did?
>
> Good Luck!
>
> A. Roger Turk, P.E.(Structural)
> Tucson, Arizona
>
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