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Re: Job place indemnification

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ouch! So no one is really safe You'll/I'll always be at the mercy of our
employer. It sounds like a contract with your employer agreeing to indemnify
you personally is your/my only guarantee that you'll/I'll will not have to
foot the potential bill. Is the typical statute of limitations 2yrs or 5yrs
for our kind of work?

Rand
----- Original Message ----- 
From: "Scott Maxwell" <smaxwell(--nospam--at)engin.umich.edu>
To: <seaint(--nospam--at)seaint.org>
Sent: Wednesday, May 19, 2004 3:20 PM
Subject: Re: Job place indemnification


> An interesting question...and I really don't know the answer.  E&O
> insurance is a "claims based" insurance policy (i.e. it is what you have
> in effect at the time of the claim _NOT_ when the project was designed or
> built), so it would suppose it would depend on what the company you left
> does with the policy when you leave and how the policy is worded (and
> whether or not you sealed the drawings).
>
> The other interesting question is what happens if the company that you
> work(ed) for decides to terminate the E&O insurance (independent of
> whether or not you are still working there).  It is my understanding that
> you are no longer covered.
>
> Regards,
>
> Scott
> Adrian, MI
>
>
> On Wed, 19 May 2004, Gale45man wrote:
>
> > Another thing to think about...
> >
> > Even if you are covered by your current employer's
> > insurance, will you be protected if you change jobs,
> > when you retire, or if your company goes belly up?
> >
> > Check out policy wording for "claims made," "prior
> > acts," and "continuing/retirement" (??) coverage.
> >
> > d a v e "worry wart" e v a n s
> >
> >
> >
> >
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