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Startup Blog Series

4: Getting More Things in Place

1/14/2021

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Today, I spent some time researching insurance for the new company. There are numerous types of insurance policies that a professional services business can carry, but the two most critical that I am focusing on are professional liability and general liability policies.

Professional Liability Insurance

Professional liability insurance protects your business in the event you are sued for negligence. Not only is it a critical item to protect a business, most architects, developers and building owners require it before entering into a contract. In the A/E world, the baseline requirement is typically $1 Million in coverage and can go higher for larger projects. Note that professional liability insurance is also referred to synonymously as Errors and Omissions (E&O) insurance.

General Liability Insurance

General liability insurance protects your business against costs or claims arising from physical injury or property garage that are related to your business operations. For an engineering/consulting firm, this could be a client/vendor getting injured in your office. The baseline requirement here is also typically $1 Million in coverage and is often required by clients before entering into a contract.

For both types of coverage, I used an insurance broker, Ames & Gough, to get policy quotes. If you are looking for a specific point of contact, shoot me a message and I can provide you with my specific broker's contact info.

Microsoft 365

Last on the agenda for today was signing up for a Microsoft 365 subscription. As far as the Microsoft Office suite goes, the only potential competitor that I'm aware of would be Google, but it seems like the functionality of Microsoft Office products is far superior. I went with the Microsoft 365 Business Standard Plan for $12.50 a month. (note the lower plan does not allow you to download Microsoft apps to your computer).

Resources Used Today:
  • ​Ames & Gough
  • Microsoft 365 Business Standard Plan
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The views, opinions, and information found on this site represent solely the author and do not represent the opinions of any other party, including the author's employer and the International Code Council, nor does the presented material assume responsibility for its use.  Local codes and amendments may vary from the code requirements described herein. Fire protection and life safety systems constitute a critical component of public health, safety and welfare and you should consult with a licensed professional for proper design and code compliance.
  • Home
  • Blog
  • About
  • PE Roadmap
  • Tools
    • Allowable Height & Area Calculator - Separated Mixed Occupancy
    • Allowable Height & Area Calculator - Non-Separated Mixed Occupancy
    • Average Grade Plane Calaculator
    • Calculated Fire Resistance for Wood Walls
    • Fire and Smoke Damper Tool
    • Fire Wall/Exterior Wall Intersection Tool
    • Frontage Calculator
    • IBC Occupant Load Calculator
    • Plumbing Fixture Calculator
    • Stair Pressurization Estimator
  • Startup