The PI insurance market in the UK for D&C Contractors are facing significant challenges...
This is a cause for concern for all parties with an interest in the development.
Project Employers need to know that if they are relying on PI insurance arranged by Contractors and the design team, that this insurance is robust and likely to remain in place for the duration of the liability period.
Contractors need to be able to provide reassurance which goes beyond 'ticking a box' to say that PI cover is in place.
Griffiths & Armour have a wealth of experience from advice to placement of construction risk insurance for residential, commercial and mixed use projects. We use a variety of markets to cater for the needs of your project.
In addition to being able to advise on the arrangement of Latent Defects and all the usual construction insurances, Griffiths & Armour has a strong capability in the D&C PI insurance market. The hardening of the PI insurance market is leading to more uncertainty regarding the long-term availability of PI insurance and the scope of cover it will provide. In addition to being able to arrange conventional annually renewable D&C PI policies, we are also able to source Single Project Professional Indemnity insurance with the aim of providing security of cover for the full duration of the liability period. Such policies can specifically cater for joint ventures and contain a joint defence provision for the effective resolution of disputes.
MEET WITH US AT MIPIM 2019:
We will be at MIPIM for the duration of the Conference, and we can discuss the above in relation to your forthcoming projects.
Would you like to arrange a time to meet?