professional indemnity insurance engineers · 2019-08-07 · l industrial contracts ordinarily...

Engineering covers a huge range of disciplinesincluding definition, design and specification.We understand that exposures vary widelyfrom project to project which is why ourProfessional Indemnity product is designed tocater to the Insured’s requirements.

Our Risk Appetite

Targetl Relevant qualifications for in house

professionals

l Small to medium-sized practices

l Building Services including heating andventilation, electrical, mechanical,drafting and feasibility

l Individual housing/extensions, retail andcommercial, ecclesiastical, hotels,universities and schools

l Well established firms with a solid record and good risk management procedures

Consideredl “Light” civil engineering including highways,

utilities and lighting

l Industrial contracts

Ordinarily Declined

l Large multi-purpose high-rise contracts

l Structural engineering

l Geotechnical, foundations and underpinning

l Nuclear, Petrochemical, rail, mining, bridges, tunnels, harbours, dams, offshore work

l Renewable Energy

l Involvement in cladding

Policy Summary This guide is designed to show what we feelare the saliant points but it does not containthe full terms, exclusions and conditions ofthe Policy, and does not form part of theinsurance contract.

Our insurance policy provides an indemnity forclaims made against the Insured by thirdparties arising from financial loss suffered as aresult of negligence in the conduct of theInsured’s professional services

The policy operates on a “claims made” basismeaning we will cover only claims that aremade against the Insured and notified to usduring the policy period. So it is notnecessarily when the error is made that is itimportant, as the claim may arise fromprofessional services performed at any time inthe past.

There are no restrictions on the number ofclaims the Insured may notify to us during thepolicy period, but for any one claim we willpay no more than the indemnity limitselected. Extensions within the policy mayhave different indemnity limits and coverrestrictions. Costs of defending claims, withour consent, are also covered.

Cover available under the policyl Full Civil Liabilities including claims from

dishonesty of employees

l Costs of defending proceedings underHealth and Safety legislation

l Costs of mitigating a potential claim

l Pollution claims

l Claims against the Insured arising fromservices performed on their behalf byconsultants

l Loss of or damage to documents

l Costs in connection with court attendance in defence of a claim

l Liabilities under Collateral Warranties

l The Insured’s liability within a joint venture

Exclusions and Limitations

l Claims arising from products supplied

l Bodily injury arising from the presence orrelease of asbestos

l Services performed prior to the retroactive date if applicable

l Claims, or circumstances which might turn out to be claims, of which the Insured areaware at inception of cover

l Contractual Liability assumed more onerous than any implied duty

Applicable LawThe laws of England and Wales will apply tothis policy.

The InsurerThe policy is underwritten by One CommercialSpecialty for and on behalf of Axis SpecialtyEurope SE.

The importance of PI insuranceBelow are examples of engineer claims whichshow the importance of ProfessionalIndemnity insurance. Structural EngineeringDesign defects led to cracking in the roof ofone of a number of car showrooms(c.£10,000,000)

Civil EngineeringEmbankment collapsed as a result of thesubsurface conditions not being correctlyassessed by the geotechical engineer (c. £750,000)

Electrical EngineeringThe Insured designed electrical services for awarehouse. Complaints about the lighting ledto the discovery that the lighting did notcomply with regulations (c. £150,000)

HVACInadequate refurbishment to a factoryheating system led to loss (c.£125,000)

One Commerial Specialty is an established Managing Agent and Lloyd’s Coverholder offering expert insurance solutions for professionals. We havesimplified the specialist insurance space and offer our brokers:

Phily Atkins01423 876030phily.atkins@ocspecialty.co.uk

Dan Mitchell020 3968 5646dan.mitchell@ocspecialty.co.uk

James Russell020 3968 5647james.russell@ocspecialty.co.uk

l A rapid responsel No fuss, flexible underwriting

l Experts in our fieldl User-friendly products

l Comprehensive cover & competitive termsl Quick and efficient processing and production

Why choose One Commercial Specialty?

Contact us today to get a quote!

W: onecommercial.co.uk/specialty E: enquiries@ocspecialty.co.uk

One Commercial Specialty is registered in England and Wales under company number 07889205. The registered office is Epsilon House, West Road, Ipswich, IP3 9FJ. One Commercial Specialty is anAppointed Representative of One Commercial Limited, who is authorised and regulated by the Financial Conduct Authority under FRN no. 709456.

Professional Indemnity insurance

Engineers