Construction Industry Professional Indemnity Insurance
As the Design and Construction Industry in Australia grows increasingly larger in size and scale, so do the complexities and ever-changing exposures that design and construction professionals and contractors face.
Our clients need a partner that can keep pace with the opportunities for growth presented to their evolving professions. AIG has developed three comprehensive solutions that meet our clients' needs.
The work of architects and engineers is constantly under the spotlight. No matter how careful and exact an architect or engineer is, their work is constantly scrutinised by clients, leaving the chance of facing a complaint alleging negligence or failure to render professional services. Working in an industry that continues to feel the negative effects of the economy, architects and engineers cannot afford to take this risk – and that is where we can help.
Design professionals are faced with evolving exposures as markets emerge, organizations cross borders, technology advances, and the legal environments in which they work constantly shift. Tasked with designing and engineering the projects of tomorrow – from local schools to large scale infrastructure projects – architects and engineers need a partner that can keep pace with the opportunities for growth presented to their evolving profession.
AIG offers the following covers for this product:
Insurance Covers |
Standard Extensions |
Optional Extensions |
Professional Liability Advanced Defence Costs |
Court Attendance Defamation Extended Reporting Period Fraud/Dishonesty Intellectual Property/Confidentiality Indemnity/Hold Harmless Inquiry Costs Joint Ventures Lost Documents Misleading or Deceptive Conduct New Subsidiaries Technology Services Vicarious Liability Warranties |
Claims Mitigation Costs Claims Preparation Costs Continuous Cover Costs in Addition Joint Venture Partner's Liability Limitation of Liability Novated Contracts Pollution Principal's Indemnity Proportionate Liability Reduction of Retention Reinstatement Limit of Liability Statutory Liability |
Taller buildings, quicker public transport, more brilliant skylines. The world’s construction industry is growing faster than ever. Construction contractors confront complex and ever changing exposures coupled with a more active litigation environment. AIG understands the intricacy of construction activities and has designed a bespoke policy to deal with the complexities of managing modern day design and construct activities.
Contractors need a partner that can keep pace with the opportunities for growth presented to their evolving profession. In response, we have developed a comprehensive solution to meet our clients' needs.
This annual offering protects contractors against complaints alleging negligence or failure to render professional services.
AIG offers the following covers for this product:
Insurance Covers |
Standard Extensions |
Optional Extensions |
Professional Liability Advanced Defence Costs |
Court Attendance Defamation Extended Reporting Period Fraud/Dishonesty Intellectual Property/Confidentiality Indemnity/Hold Harmless Inquiry Costs Joint Ventures Lost Documents Misleading or Deceptive Conduct Multiple Cause Liability New Subsidiaries Vicarious Liability Warranties |
Claims Mitigation Costs Claims Preparation Costs Continuous Cover Costs in Addition Express Fitness for Purpose Joint Venture Partner's Liability Limitation of Liability Novated Contracts Pollution Principal's Indemnity Proportionate Liability Reduction of Retention Reinstatement Limit of Liability Statutory Liability Technology Services |
Construction contractors and professionals confront complex and, often large-scale risks from a project’s start to finish. They are faced with evolving professional risk exposures as markets emerge, organisations cross borders, technology develops and legal regulations evolve.
Contractors and professionals need a partner that can keep pace with the evolving professional liabilities that come with opportunities for growth. In response, we have developed a comprehensive Single Project Professional Indemnity (SPPI) solution to meet our clients' needs.
This project-specific offering protects professional service providers against liabilities and losses that could arise from the performance of, or failure to perform professional services. This SPPI policy is available for an agreed policy period (up to 10 years).
AIG offer the following covers for this product:
Insurance Covers |
Standard Extensions |
Optional Extensions |
Professional Liability Advanced Defence Costs |
Court Attendance Defamation Fraud/Dishonesty Intellectual Property/Confidentiality Indemnity/Hold Harmless Inquiry Costs Lost Documents Misleading or Deceptive Conduct Multiple Cause Liability Vicarious Liability Warranties |
Claims Mitigation Costs Claims Preparation Costs Express Fitness for Purpose Limitation of Liability Novated Contracts Principal's Indemnity Proportionate Liability Statutory Liability Technology Services |