Re: insurance

[Jack Morgan <jack () bonyari com>]

Randy,

On 09/20/2011 08:10 AM, Randy Carpenter wrote:
> ----- Original Message -----
> > On Tue, 20 Sep 2011 07:59:00 EDT, harbor235 said:
> > > Curious if anyone out there is acting as an independent contractor,
> > > consultant,  or small business,
> > > if so do you use professional liability insurance?
> >
> > I don't consult myself, but is *anybody* crazy enough to do
> > consulting
> > in the litigation-crazy US without carrying errors-and-omissions
> > insurance?
>
> The reality is that with the mega-insurance companies able to set whatever crazy premiums they feel like, and raise 
> them every other month, the cost of being fully insured is sometimes more than what you can charge as a consultant.

This is just not true. Insurance companies are regulated by State
Insurance boards. If an insurance company wants to raise rates, they
have to submit a proposal to the their state insurance board. They can
only raise rates for a "class" of customers. For example, all customers
aged 50 - 62.



-- 
Jack Morgan
Pub 4096R/761D8E0A 2010-09-13 Jack Morgan <jack () bonayri com>
Fingerprint = DD42 EA48 D701 D520 C2CD 55BE BF53 C69B 761D 8E0A

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