Professional Indemnity For Aechitectures And Engineers
Professional Indemnity Insurance provides assurance against legal compensations that architects/engineers will have to pay due to damages they may cause to third parties during their professional activities as a result of faulty and / or inadequate operations.
Coverages:
- Project Based (Single Project) Professional Liability Insurance Policy
- Annual Professional Liability Insurance
This insurance guarantees the claims of the customers to be compensated for the direct damages that may arise as a result of errors, omissions of the insured’s employees or managers who are acting on behalf of the insured within the design, supervision or project management works provided by the insured.
Claim Scenarios:
- Determination of the impossibility of loading in order to transport some industrial system and / or material due to faulty design in the loading.
- Damage incurred on the ground that the architect / engineer did not check and / or warn the building supervisor on the collapsing roof after rain.
- Compensation for the bathroom floors of a hotel due to faulty design caused by puddles.
- Compensation for re-repair costs due to a structure not designed in accordance with local authority (Administration) legislation and requirements.
- Compensation for the removal of cracks in the building wall due to a design error.
What are the risks not covered by collateral?
Claims for damages arising directly or indirectly from all kinds of environmental pollution.
Claims for non-pecuniary damage are out of guarantee.
All types of penalties and penal conditions, including administrative and judicial fines.
Any damage that may result from insured bankruptcy.
Losses resulting from unethical activities of the insured outside the limits specified in the policy.
Damages caused by the intentional behavior of the insured.
Damages caused by the insured under the influence of alcohol, drugs or narcotic substances in the course of his work.