Professional Indemnity Insurance
Professional Indemnity insurance is intended to protect a professional if sued for a financial loss resulting from their advice and/or professional services. Anyone who can give another person advice and/or services of a skillful nature in accordance with an established discipline might be regarded as a professional.
Decades of specialising in Professional Indemnity (PI) insurance, and working closely with a variety of construction & design professionals has placed Planned Cover in a unique position in the market that other brokers cannot readily match. Not only will Planned Cover work with you to help secure the best PI coverage available, Planned Cover also has a wealth of information and advice to draw upon designed to help professionals establish a suitable risk management strategy for their business.
The following professionals and associated disciplines are examples of the types of professions that Planned Cover regularly provide insurance assistance to:
- Architects
- Building Surveyors/Private Certifiers
- Designers
- Draftspeople
- Engineers
- Landscape Architects/Designers
- Planners
- Surveyors
Case Study
Architect engaged to provide full services. Dwelling on block sloped downhill from street front. Lower ground floor to be cut into hillside. During building permit process, Council instructed Architect to move building location 1500mm down the block. Architect noticed lower ground floor walls appeared to be higher than should be. Error made in calculating revised set out of building. Discrepancy of 1400mm. Contractor stopped work. Architect sought amended permit from Council either allowing structure as built or with modified lower height ground wall design.
Council refused amendment. Part of the building had to be demolished and rebuilt. Matter settled by the PI insurer for $125,000. PI insurer obtained contribution of $20,000 from the building surveyor.
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