In Canada P. Eng's & Designers carry liability insurance.Show me what firm doesn't carry liability insurance, it's requirement by the two professional engineering parties here in Canada. A good read is what is expected of Professionals in Canada. Google is your friend.
And it does not end when projects are signed off and sealed. Whoevcer is dreaming this up must be working for any one of a number for engineering firms, construction firms, consulting firms, inspection firms or goodness knows what. and is now worried. LOL
"The project designers (architect and engineers) may be engaged for some or all of a bundle of services, ranging from total control over and responsibility for the project to a limited role involving merely preparing a design program or preliminary design scheme. The designers may remain involved throughout the construction process or merely prepare plans for others to execute. Whatever the designer’s role, a design professional who fails to exercise reasonable care and judgment in performing his or her duties may be liable for resulting construction defects. An obvious example is a structural engineer who miscalculates the loads that will be imposed on finished construction, leading to a structural failure, who will be responsible for that failure and its consequences. Also, design professionals who are contractually required to inspect work for compliance with plans and specifications may be liable for failing to discover defects in construction that could or should have been detected through a reasonable investigation"