Design and Construct Professional Indemnity Insurance
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Professional indemnity insurance indemnifies you from the legal liability and legal defence costs you may incur as a result of breaching a duty of care to your clients. If you offer a design service as part of your work or through a design and build contract with the design work subcontracted, then you need to consider carefully the fact that you could incur a liability for the design element. The disciplines can vary enormously and the following categories are reviewed commencing with the highest perceived level of risk -
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PROFESSIONAL RISK SOLUTIONS and DESIGN AND CONSTRUCT PROFESSIONALS
This is not at all coverage for defective workmanship and often the requirement for cover will be driven by your client. It is a professional indemnity insurance policy that needs to be considered carefully and we will be happy to assist with the understanding of the policy coverage.
THE PROPOSAL FORM AND MATERIAL FACTS
Please bear in mind that we need to get to know you; your insurer
needs to get to know you. The more information you give us, the
better we know you.
Please provide any supplementary information that you feel will be
useful to us.
YOUR CLAIMS HISTORY
Best to start tracking this from the moment you have a notification because the more information you are able to give to a prospective insurer, the better. Once prepared you don’t have to prepare it again – only update the information as the matter progresses! Brief summaries of incidents from memory leave open the possibility for omission; for example it would be helpful for you to explain to us significant details such as…… insurers felt you had a valid defence, however settled for commercial reasons - you might even have something to this effect on your file. If you move away from an insurer, ask them to prepare a confirmed claims experience for you. These are helpful and often difficult to obtain later.
Please ask us for a claims summary document that will be very useful to you.
RISK MANAGEMENT
Not to be underestimated. Professional Liability Risk Management has met its day and it applies to all of us. It’s quite simple but will not happen overnight. It concerns everybody in the firm and the administrative procedures as well as technical know- how. In a nut shell it basically relates to a careful review of how you all do what you do; a consideration of what could go wrong with your work in each area; a careful examination of any near-miss and the implementation of realistic measures over a period of time that will actually help to minimise the possibility of circumstances and claims from occurring.
With the Design and Construct Professional, you must ensure that your contractual obligations are fully understood because it is often the contract that dictates the liability.
COMPLETE A PROPOSAL FORM OR CONTACT PROFESSIONAL RISK SOLUTIONS TODAY FOR FURTHER DETAILS
If you have already completed a proposal form, or a renewal form, you may submit that to pii@blackfriarsrgoup.com or by fax to 0845 838 7966 or by mail to Blackfriars Group, 6 Congleton Road, Sandbach, Cheshire. CW11 1HN