Professional Indemnity

Clients involved within the construction and engineering sector can be exposed to significant exposure to professional risk. Within the Australian insurance market, some Insurers offer only a very basic level of cover, in many cases exposing their unsuspecting clients to uninsured risk.

Not all Professional Indemnity (PI) policies are the same and it’s important that clients are given the opportunity to comprehend and evaluate the difference and value of a comprehensive PI policy.

Chase Underwriting can cover you in the event that something goes wrong under your supervision. Identifying the specific Professional Indemnity risks associated with this niche, we have curated a Design and Construct Professional Indemnity policy to fulfil the needs of our clients across the broader Construction and Engineering Industries.

Our Capacity

Capacity up to AUD50M can be secured for both Annual and Single Project Risks.

Maximum period of insurance for Single Project policies is 10 years.

Our Appetite

Our appetite includes the following:

Annual Risk Types

  • Design & Construct Contractors
    • Commercial & Industrial
    • Residential
    • Civil & Infrastructure
    • Specialist Trades (mechanical, electrical, mining services etc.)
  • Construction Consultants
    • Engineers
    • Architects
    • Project Managers
    • Building Surveyors.

Single Project Risk Types

  • Civil & Infrastructure Project
    • Roads
    • Drainage
    • Bridge
    • Pipelines
    • Rail
  • Building Projects
    • Commercial
    • Industrial
    • Residential
  • Complex Projects
    • Mining
    • Power Generation
    • Water Treatment / Desalination.

Key Product Benefits

Some of the key inclusions of this policy are:

  • Provides cover for Civil Liability (ie. It is not reliant on a breach of professional duty)
  • Indemnity applies for claims arising from the performance of professional services by the Insured that result in bodily injury, property damage and pollution
  • Contractors and consultants who are deemed employees under workers compensation legislation are also afforded cover
  • Defence costs are paid in advance
  • indemnity for public relations expenses are included ( to protect the Insured’s reputation in the event of a claim or potential claim)
  • Provides indemnity in circumstances where cause of loss can be attributable to a number of factors (even if part of the loss is subject to a policy exclusion) , but only to the extent to which part of the loss is insured under the policy.

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  • No prejudice against the Insured in making a claim if they have entered into a contract that limit another parties’ liability.
  • Extension available to indemnify the Insured in circumstances where they have assumed liability by contracting out of proportionate liability legislation
  • Extension available to indemnify the Insured where direct costs and expenses are incurred in taking action to rectify or mitigate the effects of any act or omission that would otherwise result in a claim
  • Joint Ventures are included
  • Automatic Reinstatement of Sum Insured
  • Vicarious Liability is included
  • Defamation is included
  • Breach of Confidentiality is included.

Contact Chase Underwriting

Level 2, 476 St Kilda Road, Melbourne 3004
T
03 8866 0700
E info@chaseunderwriting.com.au

 

© 2015 Chase Underwriting Pty Ltd AFSL 454344 ABN 50 156 554 808

andrew@leadagency.com.auProfessional Indemnity