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Re: Wrap around insurance from project developer

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Dennis,
I tried to respond privately, but gave up.
John Riley

--- "Dennis S. Wish, PE" <dennis.wish(--nospam--at)verizon.net>
wrote:

> I've not heard about this before so I thought I
> would ask the list. I 
> tend to stay clear of condo and tract development
> projects due to the 
> high rist of law suits that we get dragged into. I
> have an offer to do a 
> two story light framed condo building upon a slab on
> grade here in my 
> home town. I was called by the developer of the
> project who is in the 
> Orange County California area. I told him that I
> don't carry E&O but I 
> could team up with another firm if the other firm
> takes the lead on the 
> project. He would still have me as the lead as I
> live close to the 
> project where my associates are in the Orange County
> and Los Angeles areas.
> The client said that he had a "Wrap Around"
> insurance policy that 
> protects all consultants on the job (Architect,
> Engineer and other 
> subs). I've never heard about this before and am
> hesitant to bid the job 
> alone.
> I have two questions:
> 1. What is a Wrap Around insurance policy and am I
> protected the same as 
> if I had E&O coverage?
> 2. What type of fee is fair for a condo project. I
> need a rough estimate 
> and I would assume that the fee is somewhat less
> than I would charge for 
> a difficult custom home which is in the neighborhood
> of $1.50 to $2.00 a 
> square foot without E&O. Can you give me a ball park
> for a two story 
> structure on non-expansive sand and silt soils.
> Structure is slab on 
> grade and probably has a pitched tile roof.
> 
> Can you e-mail me privately as the list is filling
> up with issues I'd 
> rather avoid and need a reply quickly. I do not have
> a set of drawings 
> to review as yet but will have in the next few days.
> 
> Thanks in advance,
> Dennis S. Wish PE
> California Professional Engineer
> Structural Engineering Consultant
> dennis.wish(--nospam--at)verizon.net
> administrator of
> http://www.structuralist.net/professional
> 
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