Most Professional Indemnity claims are made by clients against architects and engineers they have hired to provide professional services related to the design and construction of a building. Claims may arise out of the alleged negligent acts, errors, or omissions of the design professionals in rendering services related to the project where failures of structural components, major building subsystems (i.e.: curtain walls, roof assemblies, etc.), or equipment result in losses or damage to the owners and third parties.
Claims by owners may also allege breach of contract where design professionals have failed to meet the terms or conditions of the written contracts for professional services. Whether you are an owner of a construction project, architect, engineer, design-builder, general contractor, insurance broker, or are involved in any way with the construction industry, you have probably run into the hassle of attempting to secure Single Project Professional Indemnity Insurance.
Up to 18 months or annual renewable up to three years (subject to revision).