Design liability / professional indemnity via AIC for major construction projects
Description
object liability—is a specialised form of professional indemnity insurance for architects and engineers, tailored to the particular needs and exposures of often complex, high-profile projects with increased risk potential.
On demanding construction projects, object insurance can be a very attractive alternative to a conventional professional indemnity policy for architects.
Depending on how it is structured, object insurance can cover an individual planner or all design participants—from the lead consultant to the specialist engineer—for services rendered on that specific project.
Your advantage: Losses falling under the object insurance / object cover do not erode your running professional indemnity programme, provided an appropriate nil-allocation ("zero rating") is agreed. In that case, fees attributable to the separately insured project need not be reported to your professional indemnity insurer; they are excluded from the premium calculation of your professional indemnity insurance.
For lead consultants we alternatively recommend AIC ProSave cover—a special form of object insurance in favour of appointed specialist and sub-consultants [only for clients who maintain running professional indemnity insurance through AIC].
The services shown are a condensed overview. The relevant contractual terms of the insurance partner apply. Additional AIC modules may vary depending on insurer and coverage concept.
Our coverage concepts stand for comprehensive protection and economically convincing solutions. Over 27 years of experience, excellent market knowledge and insurance concepts developed by experts create a clear advantage for you: professional insurance protection at attractive conditions in market comparison.