Cladding claims see major insurer pull plug on architect PI cover

Contractors and clients brace for rising risk and cost fallout

PI insurers question use of AI in construction

Professional indemnity (PI) insurers have started quizzing construction firms as to whether they have sufficient oversight of artificial intelligence (AI) use in their businesses, a broker has said. Miller Insurance highlighted the emerging issue in a review of the London construction market. While there has been… The post PI insurers question use of AI in construction appeared first on Construction News.

Fire safety & PI insurance: why 21 December 2018 changed everything

Since the Grenfell Tower tragedy in 2017, the construction and property sectors have undergone a fundamental transformation in how fire safety is approached. Not just in practice and regulation, but in how it’s insured. One date in particular has come to define this shift in the professional indemnity (PI) market. The post Fire safety & PI insurance: why 21 December 2018 changed everything appeared first on Planning, Building & Construction Today.

‘Check your PI cover’ warning to architects after Supreme Court ruling

The Architects’ Journal‘Check your PI cover’ warning to architects after Supreme Court ruling Developers have a ‘clearer path’ to pursue architects who design unsafe buildings following a recent Supreme Court ruling, legal experts have warned The post ‘Check your PI cover’ warning to architects after Supreme Court ruling appeared first on The Architects’ JournalWill Ing

Twin peaks: Will new safety laws spark insurer backlash?

Professional indemnity insurance premiums have only just started falling after their post-Grenfell peak. But some fear new building safety laws could spark another insurer backlash In the years after June 2017’s Grenfell Tower fire, many contractors found professional indemnity (PI) insurance difficult to obtain, or… The post Twin peaks: Will new safety laws spark insurer backlash? appeared first on Construction News.

PI insurance: how indemnity is still burdening the sector - Joshua Stein in Construction News

The cost of professional indemnity insurance has soared in recent years by as much as 1,500 per cent for some firms, resulting in squeezed margins, supply chain pressure and business failures

Building Magazine - Insurance pain in the supply chain, 16 February 2021

Professional indemnity insurance is a growing problem for subcontractors, yet clients and main contractors seem utterly blind

What is the solution to the contraction in the PI insurance market for design especially of cladding / facades?