T_R_Oglodyte
TUG Lifetime Member
I'm completing my application for renewal of my Architects/Engineers liability insurance policy. There's a questionnaire I have to fill out about the services I provide. The purpose of the questionnaire is to screen out companies that provide services that are inherently high risk. (Firms that answer yes to any of the question are placed into progressively higher premium pools.)
Anyway, I thought it interesting that providing professional engineering services related to timeshare is an activity that pushes engineers into a higher risk pool. I'm sure that's true not just for engineers and architects; anybody providing professional services is going to get dinged for higher errors and omissions insurance.
In my business that would put me in the same category as if I were managing the cleanup of contaminated industrial sites. Another spin on the notion of "toxic timesharing", I guess.
Of course, that gets passed on in the form of higher rates, which increases fees.
Anyway, I thought it interesting that providing professional engineering services related to timeshare is an activity that pushes engineers into a higher risk pool. I'm sure that's true not just for engineers and architects; anybody providing professional services is going to get dinged for higher errors and omissions insurance.
In my business that would put me in the same category as if I were managing the cleanup of contaminated industrial sites. Another spin on the notion of "toxic timesharing", I guess.
Of course, that gets passed on in the form of higher rates, which increases fees.
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