Errors and Omission Insurance Hike

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goodgps
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Joined: Fri Jan 04, 2008 7:32 pm
Location: Modesto, Ca

Errors and Omission Insurance Hike

Post by goodgps »

Dear "fellows":

I have just been informed that my e&o insurance will more than double for the upcoming year.

The reason they state is; "an upward trend in claims against Land Surveyors"
Is this really TRUE ??? I've thought of Land Surveying as being a fairly low risk profession . . .thoughtful and considerate.

Could these claims be arising from construction staking ?? In which case, wouldn't this be "Engineers Helpers" ??? Falling under Civil Engineering ?

The New prices will drive up my costs, but as usual, it will most likely further reduce profits.

Question ?? Are there really that many claims against Land Surveyors ???

Thank You
Scott
Posts: 261
Joined: Mon Oct 11, 2004 11:52 am
Location: Modesto, CA

Claims

Post by Scott »

Been making a lot of claims Dave?
Scott DeLaMare
LS 8078
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Jim Frame
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Post by Jim Frame »

I got a notice of non-renewal in the mail yesterday -- my carrier is no longer offering "this product" in California. (They didn't say if "this product" is all E&O, or only PLS E&O.)

Edit: I misspoke -- the non-renewal notice was for my general liability policy, not E&O.
Jim Frame
Frame Surveying & Mapping
609 A Street
Davis, CA 95616
framesurveying.com
Proud7191
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Post by Proud7191 »

I understand a break in E&O insurance can be a really bad thing. The new company will not pick up issues before the new contract and the old company no longer has a contract so the professional now paid for insurance that is of no use, combine that with the length of time a typical issue takes to be discovered and you could have a problem. Jp
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land butcher
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Post by land butcher »

Insurance sucks. The insurance companies write their own rules.
Some companies refuse to issue general business liability unless you carry their E&O and many still don't want to cover the equipt in the trucks.

It might have a lot to do with obombacare, they might think it could have to pay for medical injury costs. It's affecting a lot more than people think and not favorably to the consumer.
Defund govt
To fully fund govt first the national debt would have to be paid. The US Govt is $18 TRILLION in debt, using 350 million people in the USA it would require $51,000 from every man, woman and child to pay it off. And that's just the Federal debt. Did you write your check yet?
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Jim Frame
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Post by Jim Frame »

It might have a lot to do with obombacare
I'd put the odds at right about zero, give or take a few thousandths of a percent.
Jim Frame
Frame Surveying & Mapping
609 A Street
Davis, CA 95616
framesurveying.com
btaylor
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Joined: Wed Jul 24, 2002 4:33 pm
Location: Foster City, CA

Post by btaylor »

Jim Frame wrote:I'd put the odds at right about zero, give or take a few thousandths of a percent.
See? He left some daylight for you landbutcher. Know hope.
Bryan G. Taylor, LS 7551
871 Woodside Way
San Mateo, CA 94401

btaylor@bgtsurveying.com
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land butcher
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Post by land butcher »

Got any better reasons? I'm all ears.
Defund govt
To fully fund govt first the national debt would have to be paid. The US Govt is $18 TRILLION in debt, using 350 million people in the USA it would require $51,000 from every man, woman and child to pay it off. And that's just the Federal debt. Did you write your check yet?
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David Kendall
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Post by David Kendall »

It could be the fault of those guys on the east coast that slip up and stake the multi-million dollar custom homes on the wrong lot...
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land butcher
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Post by land butcher »

David Kendall wrote:It could be the fault of those guys on the east coast that slip up and stake the multi-million dollar custom homes on the wrong lot...
Twice - LOL
Defund govt
To fully fund govt first the national debt would have to be paid. The US Govt is $18 TRILLION in debt, using 350 million people in the USA it would require $51,000 from every man, woman and child to pay it off. And that's just the Federal debt. Did you write your check yet?
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