Professional indemnity (PI) insurance protects you from a host of liabilities if you provide advice or building design services. It also covers you for breach of professional duty while providing services. In the past, contractors didn’t generally need PI insurance. Times have changed. Today, PI insurance covers contractors for advice they provide. This should not be confused with public liability (PL) insurance, which covers you while your business is engaged on-site for breaking/damaging third-party property or accidental injury. Also, PL policies don’t cover a contractor before their work has started or after it has finished. Following recent disasters, the responsibility for losses that can be apportioned to a building’s design has been driven down the supply chain. Now most specialist trades need to carry PI insurance if they want to win substantial contracts. Today, main contractors must co-sign building Completion Certificates under the Building Control Amendment Regulations, and their sub-contractors must sign Ancillary Certificates. As these formal sign-offs are required by more parties per project, the burden of responsibility and blame in the event of a building failing after completion is spread much wider. We can help you Our extensive experience in insuring construction companies and those in the construction profession enables us to identify some of the best, and most practical, PI insurance options available. Call us on 01525 719955 or email info@homecountiesinsurance.com for help. We are here to help.
Professional indemnity insurance has to keep up with the current job market as job titles change, new roles appear, and people change jobs more often than they used to. Today we are witnessing the rapid appearance of new roles such as GDPR consultant, cyber-security adviser, blogger and on-boarding manager.
According to the 2018 Edelman Trust Barometer, the UK’s population is suffering from “stagnant distrust” of others. The barometer also cited search engines and social media platforms as drivers of distrust. Within this evolving social landscape, insurance industry giant Aviva is proactively publishing facts to establish itself as an insurance company that should be trusted. Its headline statistic of accepting 96% of claims in 2017 is important to Aviva, and other insurance providers have shared similar data.
According to Alliance Insurance’s report on plant theft losses from January 2015 to February 2018, the theft of plant machinery from construction sites in the UK is on the rise. In the research, the eight items most often mentioned in claims were as follows:
REQUEST A CALLBACK
Call today on +44 (0)1525 719955
Related Posts
18 Jun
Professional Indemnity and Keeping Up with Professional Progression
16 Oct
Insurance: Who would you trust?
15 Apr
Increasing Thefts of Plant Machinery
PREV POST
