[144886] in North American Network Operators' Group
Re: insurance
daemon@ATHENA.MIT.EDU (Owen DeLong)
Tue Sep 20 15:13:02 2011
From: Owen DeLong <owen@delong.com>
In-Reply-To: <4E78AE01.7060104@bonyari.com>
Date: Tue, 20 Sep 2011 12:10:44 -0700
To: Jack Morgan <jack@bonyari.com>
Cc: nanog@nanog.org
Errors-To: nanog-bounces+nanog.discuss=bloom-picayune.mit.edu@nanog.org
On Sep 20, 2011, at 8:15 AM, Jack Morgan wrote:
> Randy,
>=20
> On 09/20/2011 08:10 AM, Randy Carpenter wrote:
>>=20
>> ----- 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?
>>>=20
>>> I don't consult myself, but is *anybody* crazy enough to do
>>> consulting
>>> in the litigation-crazy US without carrying errors-and-omissions
>>> insurance?
>>=20
>> 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.
>=20
> 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.
>=20
This is generally NOT true for E&O and Professional liability insurance.
For the most part, that goes largely unregulated. The state insurance =
boards
tend to focus on consumer-oriented forms of insurance (auto, home, =
life).
Owen
