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RE: Condos. Charging for the extra E&O insurance costs.

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John:

 

I believe the term you are thinking of is called:

 

 

“Project specific insurance”

 

 

Regards,

 

David L. Fisher SE PE

Fisher + partners

372 West Ontario

Chicago 60610

 

312.573.1701

312.573.1726 fax

 

312.622.0409 mobile

 

www.fpse.com


From: John C. Jones [mailto:john(--nospam--at)struct-engr.com]
Sent: Thursday, December 02, 2004 4:41 PM
To: seaint(--nospam--at)seaint.org
Subject: RE: Condos. Charging for the extra E&O insurance costs.

 

It's handled in our area by getting the owner to get coverage that covers everyone.  He pays for the policy and it doesn't count against you with your insurance.  I'm going blank on the name but it's called team cover or something like that.  Excel, which is the former DPIC, can give you better info.

 

John C. Jones, PE
Barnett Associates
Pell City, AL
205-884-5334
205-884-0099 (fax)

-----Original Message-----
From: David Merrick [mailto:MRKGP(--nospam--at)winfirst.com]
Sent: Thursday, December 02, 2004 3:41 PM
To: SEAINT
Subject: Condos. Charging for the extra E&O insurance costs.

I am considering the cost of insurance increases to perform a condo design. I found costs exceeding my design fees by at least 200%. I have made some assumptions that I would like to have comments on. What is the usual increase of insurance cost for one project???

 

Extra insurance payments from one project will be for about 10 years. I wonder if litigation is more likely to occur as time nears to the 10 year mark.. ????

 

Insurance increase estimates needs include the time that the designer will  spends in settlement conferences, depositions and possible trial. Maybe another 30% of the time it took to design it????

 

Go see the information at…

 

http://www.structuralist.net/wp_professional/index.php?cat=2

 

www.structuralist.net  is by Dennis Wish

 

I encourage our profession to take on condo and apartment designs. There is a need for the housing. Make sure that the client understands that the larger fees are to pay extra for E&O insurance. Understand that the increased E&O fees are reasonable, because most condos are going into litigation regardless of the quality of your design.

 

Developers now must get an over-all coverage that might also include the Structural Engineer.

 

Go see structuralist.net.

 

David Merrick

Structural Engineer of California