Professional Liability Insurance (E&O) for Structural Engineers
We provide professional liability insurance to structural engineers in select states. This type of coverage is also called errors and omissions (E&O) insurance.
What do structural engineers do?
Structural engineers design and analyze structures which must withstand weight or force, such as retaining walls, buildings, bridges, dams, and tunnels.
They use mathematics and physics to design structures which are safe by minimizing the risk of structural failure. They also work on the remodel and seismic rehabilitation of existing structures.
Structural engineers must follow government regulations and safety laws in designing structures. They must also consider the construction costs, availability of materials, functionality and appearance of the structure.
Why do structural engineers need professional liability insurance?
Structural engineers deal with complex issues which involve a high level of technical ability and knowledge. Because of the nature of their work, they have multiple opportunities to make an error or omission while working on a project. In the event of a lawsuit, they will have to defend their work and could be liable for large sums of money if found to have been negligent. Structural engineers working on large projects can also be included in a lawsuit, along with all other professionals involved in the project, even if no error or omission was made. In any case, legal fees tend to be significant.
It is therefore vital for structural engineers to have professional liability insurance protection.
What protection does a professional liability insurance policy provide?
Professional liability insurance provides structural engineers with protection against damages and legal fees. Professional liability policies provide coverage for claims made against engineers by reason of a negligent act, error or omission in the performance of services.
What policy limits and deductibles are available?
Professional liability policy coverage starts at $100,000/$100,000 (per claim/annual aggregate) up to policy limits of $5 million/$5 million. The most common policy limits for professional liability coverage are $1 million/$1 million. Deductibles starting at $1,000 are generally available.
Arizona, Arkansas, California, Colorado, Connecticut, Delaware, Florida, Georgia, Illinois, Indiana, Iowa, Kansas, Louisiana, Maine, Maryland, Michigan, Minnesota, Missouri, Nebraska, Nevada, New Jersey, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Tennessee, Texas, Utah, Vermont, Washington, Wisconsin, Wyoming.