- Recent developments in professional indemnity insurance for the construction sector
- How have recent issues in the construction industry, such as the Hackitt Report and the coronavirus (COVID-19) pandemic, affected the availability of PI insurance cover?
- In the current market, are consultants and contractors able and/or willing to provide the levels of PI insurance required by employers on projects?
- Are consultants still willing to provide each and every claim cover, or are they instead insisting on an aggregate basis of cover subject to a specified number of reinstatements? Are you seeing unlimited reinstatements offered as a compromise?
- In the current market, are contractors able to obtain PI insurance cover without difficulty? If not, do they seek to pass the obligation to maintain cover down to the consultants?
- How are fire safety and cladding claims most frequently dealt with in your experience—are they excluded altogether or subject to separate aggregate limitations in the same way as pollution, contamination and asbestos?
- Are you seeing any other exclusions that consultants or their PI insurers are seeking to include in the PI cover required to be provided on projects?
Construction analysis: Jonathan Spencer, partner and Harry Speak, associate at Simmons & Simmons consider some of the recent developments in the professional indemnity (PI) insurance market for construction professionals and the challenges of obtaining adequate levels of cover.
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