Addressing the crisis in the professional indemnity (PI) insurance market

By Rudi Klein2020-02-19T06:00:00

It could be solved by insurance-backed alliancing and rewarding evidence of technical competence

Significant increases in insurance premiums have raised stress levels across the construction industry. I recently heard of one business being quoted a premium of £75,000 for £1m worth of professional indemnity cover!

Professional indemnity (PI) insurance is a form of performance-related assurance which, for contractors, comes on top of other performance securities such as bonds, retentions and guarantees.

Already registered? Login here

To continue enjoying Building.co.uk, sign up for free guest access

Existing subscriber? LOGIN

Stay at the forefront of thought leadership with news and analysis from award-winning journalists. Enjoy company features, CEO interviews, architectural reviews, technical project know-how and the latest innovations.

Limited access to building.co.uk
Breaking industry news as it happens
Breaking, daily and weekly e-newsletters

Get your free guest access SIGN UP TODAY

Subscribe now for unlimited access

Subscribe to Building today and you will benefit from:

Unlimited access to all stories including expert analysis and comment from industry leaders
Our league tables, cost models and economics data
Our online archive of over 10,000 articles
Building magazine digital editions
Building magazine print editions
Printed/digital supplements

Subscribe now for unlimited access.

View our subscription options and join our community