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Replies
I agree that the amount necessary may vary depending on a number of issues. One of the things to look at is how much coverage your client may want you to give them. The current ALTA/ACSM specifications in Table A for a Land Survey do allow the client to negotiate E&O coverage amounts.
Most minimum E&O coverage I have seen starts out at a million per incident. This may not be enough for a client who wants you to.... say.....stake out a Nuclear Power Plant. However it might be enough to do the normal run of the mill residential boundary survey.
Hello Deward,
Thanks for getting back to me....been very busy....I went with the one million, hopefully it'll never be used. Hows your issue with the Texas governor going?
Thanks Again, Paul
The amount your State or jurisdiction requires or suggests (what is your statutory or otherwise legal liability?). Unless you are asking an insurance salesman, there should be some normal standard where you practice. I know, "yes Dr. Obvious", but it varies from place to place, and from project to project.
Hello Scott,
Thanks for getting back to me....been on the road.....I appreciate your advice!
I'll look into that. Hows the weather up in Wisconsin? See You, Paul