Many of our Engineering clients are starting to budget for 2014.  One of the major expense items is insurance and the purpose of this article is to explain where the industry is in the insurance cycle and what you can expect to see in 2014. 

 

Litigation is hugely expensive, time consuming and emotionally draining.  Although litigation has its place, in most cases it is an ineffective way to resolve business disputes. 

Don’t know what an IIPP is? OK, you had better read this.

According to the forecasting firm Eqecat, Superstorm Sandy may be the second most expensive storm in U.S. History. The death toll is 175 including at least 106 in the United States. Estimated economic damage is $30-$60 Billion.

Most engineers have never heard of Ed Howell, but Ed Howell has directly benefitted every engineer practicing in the U.S. today!  So what did Ed do and how did he benefit the engineering profession? 

The perfect set of plans has yet to be drawn, yet you could be held to that standard if you are not careful. It is important to realize that the law does not require you to be perfect. The law only requires that you perform your services with the ordinary degree of skill and care that would be used by other reasonably

Most companies use their websites as an electronic brochure, and are inclined to list just about every service they can provide, whether or not they have provided it in the past. While this might be good for business generation, it could adversely affect insurance availability and premiums.

The Law Does Not Require Perfection!