‘Tough’ PI insurance landscape sees quarter of built firms lose work

Almost a quarter of construction firms have lost jobs due to inadequate professional indemnity insurance (PII), with high premiums “disproportionally” affecting SMEs, a survey finds. The Construction Leadership Council’s (CLC) second annual PI insurance survey found that 24 per cent of respondents had lost work,… The post ‘Tough’ PI insurance landscape sees quarter of built firms lose work appeared first on Construction News.

Former RIBA president reports ’very strong demand’ for new PI insurance mutual

Marco Goldschmied warns ‘broken’ market is stopping talented young architects from setting up in practice

Nearly one third of firms have lost jobs because of inadequate PI insurance, CLC survey says

Companies unable to get cover required as findings reveal premiums went up fourfold at last renewal

PI insurance problems delay essential work on building safety, warns CLC

Cost increases and the introduction of new restrictions on professional indemnity (PI) insurance are preventing companies from taking on projects and could delay essential work on building safety, warns the Construction Leadership Council (CLC). The post PI insurance problems delay essential work on building safety, warns CLC appeared first on Planning, BIM & Construction Today.

Campaign to tackle ‘shameful’ removal of fire safety from PI insurance

‘Shameful’ removal of fire safety from professional indemnity insurance leaves building owners uninsured in Grenfell aftermath, warns Ingleton Wood. The post Campaign to tackle ‘shameful’ removal of fire safety from PI insurance appeared first on Planning, BIM & Construction Today.

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

Professional Indemnity Insurance

Attached are articles highlighting the increasing difficulty of obtaining PI Insurance at reasonable rates and to cover associated risks

The best policy for PII cover.Three experts offer advice on how to approach your next renewal.

Widespread economic uncertainty, concerns over fire safety in the post-Grenfell era and a shrinking market have caused significant increases to professional indemnity insurance premiums.

What is it you look for when renewing your Business Insurance?

Will Professional Indemnity Insurance increase in 2022 ?

Is PII cover disappearing from the insurance market?

What to do when PI is not obtainable