Collegiate Underwriting – Committed to quality underwriting of Engineers
The amount of litigation in the construction industry is constantly on the increase. Professional indemnity (PI) insurance is seen more and more as an essential protection for a firm’s balance sheet.
Levels of indemnity cover are often dictated by contract requirements, we provide limits between £100,000 to £5M to suit your individual circumstances.
All our quotations are individually underwritten so you can be sure the premium reflects your firm’s unique circumstances.
For a quotation
Please download and complete the proposal form on the right, or send a copy of your current insurer’s proposal to [email protected]. If you prefer to speak to the team please call us on 020 7459 3456.
- Direct contact with the underwriter
- Civil liability cover
- Limits of Indemnity up to £5 million
- Coverage – cover is included for criminal defence costs relating to any regulation or statute which applies to your business, for example the Construction, Design and Management (CONDAM) Regulations.
- Collateral Warranties – no limit on the number of assignments
- Industry leading claims service
- A-(Excellent) policy security
Typical claims against Engineers
- Under specification or poor design of M&E services
- Incorrect design of foundations or other structural elements
- Inadequate inspection of work by engineering contractors or sub-contractors
- Delay and disruption to a project due to failures to provide drawings or information when required.
All PI Insurance is on a claims made basis, that means you must have an active PI policy at the time a claim or allegation is made against you. It is important to remember that once a PI policy expires you can no longer make any claims against it. Therefore you need to consider maintaining your PI insurance once you cease trading. This is called Runoff Insurance and provides protection against any claims which may arise from work you undertook in the past. Some professional Institutions require their members to carry Runoff insurance.
Runoff is an annually renewable policy, the premiums will usually reduce each year to reflect the reducing exposure to insurers.