[Cruisingdad]

Originally Posted by cardiacpaul

I'll give the 5 minute tour, I'm quasi-retired. (mostly just tired)

Because I'm no longer actively engaged, I've stopped the E&O insurance.

last years premium?
4879.00 (for 250k umbrella coverage, 10k deductible) no, they don't pay my legal fees in case I'm sued, just theirs. )

In non barrister terms, If I miss anything, like a wet deck, I'm on the hook to make the contracted party whole. If I say there is a fire extinguisher and there isn't, I get to buy one.

If I say the running rigging is in safe and usable condition and the first time out a line breaks and the boom slaps a crew member in the noggin, I'm buying the line, and quite possibly his medical bills, lost wages, and his wife or girlfriend a trip to Cabo.

One can state in the contract that the "company" (surveyor) has no liability for anything, and this varies from state to state, but generally there is an implied "warranty" that the work done by the surveyor is to be construed as a writ of merchantability for the product (the boat).
Meaning, its a boat, its in whatever condition its in (today, not tomorrow, the next day, all bets are off) , and this is what its going to take to repair it to a certain condition.

In effect you are legally responsible for your survey? Then I have been mistaken about this for a long time. As I stated earlier, I thought you were paid for your OPINION... not for what is actually there.

Learned something here.

- CD