I currently am a partner in new company where we repair and return electronic controls for customers whose warranty with the OEM has expired. It can be as easy as diagnosing a failed relay or IC, and replacing it.
Okay, so the insurance is straightforward, and probably cheap. A non electrical/software engineer partner of the company got the minimal coverage necessary to allow us to operate.
Lately, we are finding that a significant number of customers are now asking for special customized firmware. This is where my confusion starts.
The types of electronic embedded controls that we service have motor controls,specifically motors that can cause INJURY.
- If I want to rewrite the embedded software (firmware), what kind of insurance do I need to get? (It is desirable to rewrite the firmware because we know of defects in it that cause the parts to fail faster. It is also desirable to rewrite the firmware because some customers who seek our services want customized operation with their controller).
- Do I pay significantly more for insurance now that we want to go in and change the firmware with our own? On a technical standpoint, it seems that there is more risk in changing the OEM's firmware out of their micros than simply troubleshooting the electronics and replacing a part.
- I don't know if such a business now requires E&O insurance (errors and ommisions?) or product liability insurance.
- If I simply replace a failed component, is the OEM still responsible for the product that is repaired by my company?
I really don't know the terminology of the different kinds of insurance. I'm sure many of you in comp.arch.embedded are also small business owners (or now, medium sized businesses).
Thanks, Mike