Construction Professional Indemnity Insurance safeguards construction professionals against claims arising from errors, omissions, or negligence in their professional services, protecting their reputation and financial stability.
Exance's expertise, efficiency, and commitment to excellent service have been invaluable in supporting our business and ensuring customer confidence!
Leah
A+ to unrated, we have paper to match your specific requirements
A trusted reputation for excellence and long-term client success
Comprehensive coverage with flexible custom risk solutions
Construction Professional Indemnity (PI) Insurance provides comprehensive protection against claims resulting from design errors or omissions. Architects, engineers, and consultants often face allegations of faulty designs that may lead to structural issues, cost overruns, or project delays. PI coverage ensures financial protection for legal defence costs and any settlements or damages awarded due to these claims.
By addressing these risks, the policy supports professionals in maintaining their reputation while minimising financial exposure. Brokers can offer this product confidently, knowing it provides vital protection in an industry where even small mistakes can lead to significant liabilities.
PI Insurance protects against claims of negligence in professional advice or services. For example, project managers, surveyors, or consultants who fail to identify compliance issues or critical risks could face costly claims. The policy covers defence costs and compensatory damages, ensuring professionals can respond effectively to such allegations.
This coverage not only helps clients manage unforeseen liabilities but also demonstrates their commitment to accountability and professionalism, essential qualities in today’s construction landscape. Brokers can position this as a must-have policy for businesses in the construction sector.
Many construction professionals work under complex contracts that outline specific deliverables. Disputes over unmet contractual obligations or deviations from agreed project specifications are common. Construction PI Insurance provides coverage for legal costs and settlements arising from these disputes.
This ensures that professionals can navigate disagreements without facing devastating financial consequences. Brokers can highlight this feature as a key safeguard for businesses operating under high-pressure contractual obligations.
Although not typically included in general liability insurance, PI policies may cover property damage or injury claims directly linked to professional advice or design. For instance, a structural miscalculation leading to a collapse could result in claims for damages or injuries caused.
This coverage fills a critical gap for construction professionals, ensuring they are protected against the unique risks associated with their expertise. Brokers can emphasise this as a value-added feature of a comprehensive PI policy.
PI Insurance addresses claims involving allegations of defective workmanship linked to professional advice. For example, if a construction consultant recommends materials or methods that result in substandard work, they could be held liable.
The policy ensures that professionals can manage the costs of defending these claims and any resulting compensation. This protection allows brokers to offer clients peace of mind in an industry where quality expectations are high, and mistakes can lead to significant financial exposure.
In today’s digital construction landscape, disputes over intellectual property (IP) are increasingly common. PI Insurance covers claims related to unintentional IP infringement, such as using copyrighted designs or proprietary methods without permission.
This coverage protects clients from the legal and financial fallout of such claims, ensuring they can continue operating without disruption. Brokers can position this as an essential element of PI for modern construction professionals.
Construction Professional Indemnity (PI) Insurance provides comprehensive protection against claims resulting from design errors or omissions. Architects, engineers, and consultants often face allegations of faulty designs that may lead to structural issues, cost overruns, or project delays. PI coverage ensures financial protection for legal defence costs and any settlements or damages awarded due to these claims.
By addressing these risks, the policy supports professionals in maintaining their reputation while minimising financial exposure. Brokers can offer this product confidently, knowing it provides vital protection in an industry where even small mistakes can lead to significant liabilities.
PI Insurance protects against claims of negligence in professional advice or services. For example, project managers, surveyors, or consultants who fail to identify compliance issues or critical risks could face costly claims. The policy covers defence costs and compensatory damages, ensuring professionals can respond effectively to such allegations.
This coverage not only helps clients manage unforeseen liabilities but also demonstrates their commitment to accountability and professionalism, essential qualities in today’s construction landscape. Brokers can position this as a must-have policy for businesses in the construction sector.
Many construction professionals work under complex contracts that outline specific deliverables. Disputes over unmet contractual obligations or deviations from agreed project specifications are common. Construction PI Insurance provides coverage for legal costs and settlements arising from these disputes.
This ensures that professionals can navigate disagreements without facing devastating financial consequences. Brokers can highlight this feature as a key safeguard for businesses operating under high-pressure contractual obligations.
Although not typically included in general liability insurance, PI policies may cover property damage or injury claims directly linked to professional advice or design. For instance, a structural miscalculation leading to a collapse could result in claims for damages or injuries caused.
This coverage fills a critical gap for construction professionals, ensuring they are protected against the unique risks associated with their expertise. Brokers can emphasise this as a value-added feature of a comprehensive PI policy.
PI Insurance addresses claims involving allegations of defective workmanship linked to professional advice. For example, if a construction consultant recommends materials or methods that result in substandard work, they could be held liable.
The policy ensures that professionals can manage the costs of defending these claims and any resulting compensation. This protection allows brokers to offer clients peace of mind in an industry where quality expectations are high, and mistakes can lead to significant financial exposure.
In today’s digital construction landscape, disputes over intellectual property (IP) are increasingly common. PI Insurance covers claims related to unintentional IP infringement, such as using copyrighted designs or proprietary methods without permission.
This coverage protects clients from the legal and financial fallout of such claims, ensuring they can continue operating without disruption. Brokers can position this as an essential element of PI for modern construction professionals.
What is Construction Professional Indemnity Insurance?
Construction Professional Indemnity Insurance protects professionals in the construction industry against claims arising from mistakes, omissions, or negligence in their services. It covers legal defence costs, settlements, and damages, ensuring that professionals can handle disputes without jeopardising their financial health.
Who Needs Construction Professional Indemnity Insurance?
This policy is essential for architects, engineers, surveyors, project managers, and consultants. It provides critical protection against the financial and reputational risks associated with professional errors. Developers and contractors may also require PI coverage when offering design-and-build services.
Covers legal defence costs, settlements, and damages, reducing financial risks associated with professional errors.
Ensures professionals can defend themselves against allegations, protecting their credibility and business relationships.
Addresses a wide range of risks, including design errors, negligence, and IP disputes, providing holistic protection.
Many contracts require PI coverage, ensuring professionals meet industry standards and client requirements.
Our PI policies are customised to meet the unique needs of construction professionals, providing relevant and effective coverage.
Covers claims that may arise years after the completion of a project, offering extended security.
+ -
What does Construction Professional Indemnity Insurance cover?
PI Insurance covers legal costs, settlements, and damages for claims related to errors, omissions, or negligence in professional services. This includes design mistakes, contractual disputes, and intellectual property infringement.
+ -
Who needs PI Insurance in the construction industry?
Professionals such as architects, engineers, surveyors, and consultants require PI Insurance. It is also beneficial for contractors providing design-and-build services.
+ -
How is PI Insurance different from general liability insurance?
General liability insurance covers bodily injury or property damage but does not address professional errors or omissions. PI Insurance specifically protects against risks arising from professional advice or services.
+ -
What are the limits of coverage?
Coverage limits depend on the policy and can be tailored to meet contractual or regulatory requirements. Brokers should discuss specific needs with their clients to ensure adequate protection.
+ -
How long does PI Insurance cover claims?
PI policies often include retroactive cover and extended reporting periods, ensuring protection for claims arising from past projects or long-completed work.
+ -
Why is PI Insurance important for brokers to recommend?
PI Insurance is crucial for protecting clients’ businesses and reputations in a high-risk industry. It also ensures compliance with contractual obligations, enhancing client trust and credibility.
