Professional Indemnity Insurance for Architects, Engineers, Project Managers and Quantity Surveyors
Professional indemnity insurance for architects, engineers, project managers and quantity surveyors is crucial against unique legal risks. Shackleton Risk has developed a deep understanding of the needs of professionals practising in the built environment and the unique legal risks and exposures they face daily. Plus, the demands of Clients and Regulators in the challenging times we are going through.
What is PI Insurance?
Without professional indemnity insurance, built environment practitioners risk facing significant legal expenses and compensatory damages due to rising legal costs and court awards. PI insurance is crucial for protecting personal and business assets against these risks.
Why Professional Indemnity Insurance?
All professionals in the built environment should consider PI cover, including:
- Architects: Protect against claims related to design errors or omissions.
- Engineers: Safeguard against legal actions stemming from project failures or miscalculations.
- Project Managers: Cover liabilities arising from project oversight and management decisions.
- Quantity Surveyors: Shield against claims related to cost estimations and financial advice.
Even with the best practices in place, professionals can face allegations of negligence. Access to expert legal defense is essential, as the costs associated with such claims can be substantial
What Does Professional Indemnity Insurance Cover?
A PI policy provides coverage for individuals and businesses against legal costs incurred in defending against allegations of negligence or breach of professional duty, as well as any compensatory damages payable to another party.
Why Choose Shackleton Risk for Professional Indemnity Insurance?
Despite best efforts, professionals are susceptible to claims or allegations of negligence if their advice or services fail to meet client expectations or contractual obligations. Legal action by a client necessitates access to top-tier legal resources for defence, as the consequences of losing such cases can be dire. Expert legal defence comes at a high cost, underscoring the importance of professional indemnity insurance for architects, engineers, project managers, and quantity surveyors.