Why choose Hensure for PI insurance
Our business is not a call centre, but instead provides a personal service and dedicated team to assist with your queries.
Our team has a wealth of experience and knowledge to help you and your business get the most appropriate cover for your needs.
Our full 24/7 quote and buy facility allows you to run a personalised quotation, at a time that suits you and your business.
Why professional indemnity insurance for Estimators can be vital cover.
As an Estimator, you provide a service that comes with an expectation of a certain level of professionalism and specialist knowledge. You will be preparing work to be estimated by gathering proposals, blue prints, specifications and related documents. Computing costs by analysing labour, material and time requirements.
Today’s commercial environment is becoming increasingly litigious with clients seeking compensations far more frequently than in the past. Even if the allegations made against you are false the legal costs involved in defending the claim can be very high. With the right professional indemnity insurance for estimators in place, the only cost you’ll have to pay is the excess on the policy, no matter how high the legal costs involved!
Professional Indemnity insurance for Estimators offers financial protection for the legal fees required to defend yourself, as well as for any compensation awarded to your client as a result of your actions.
If you are a RICS member (Royal Institute of Chartered Surveyors), we have a specific RICS approved wording available otherwise a construction professional wording will be available for all other estimators.
For further information on any aspect of professional indemnity insurance for Estimators, please contact our specialist team today.
- Company Size – the overall size of the firm, based on gross annual income of the company and the number of partners/ directors/ employees.
- Qualifications and Experience – insurers will want to know how many relevant years’ experience that you have in the trade and may want to see relevant CVs.
- Type of Work – insurers will want to know the split of annual income derived from each discipline that the firm is involved in; some areas are considered high risk and some areas are considered low risk from a claims point of view.
- Claims Experience – this information reflects on the type of work carried out by a company. It also reflects the quality of the company’s work, experience, staff & internal risk management.
- Turnover Split by Territory – a large exposure to USA/Canada in particular can be perceived as a problem due to the claims culture in North America and the likely costs involved in defending negligence claims in those countries.
A typical Professional Indemnity insurance policy for Estimators will normally cover the following areas:
• Negligent act error or omission
• Unintentional intellectual property rights infringement (other than patents)
• Unintentional breach of confidentiality
• Unintentional defamation
• Fraud & dishonesty
• Loss of third party documents or data
• Computer virus transmission
• Negligence of sub-contractors
• Collateral warranties (limited to 2 assignments)
• Adjudications under the Housing Grants Construction & Regeneration Act
• Irrecoverable fees
• Bodily injury or property damage arising from breach of professional duty
• Defence costs
• Court attendance costs
• Breach of health & safety legislation
Your policy coverage may vary between insurer.
- Professional Indemnity provides cover for claims that arise as a result of the work you have completed or advice you have given.
- Public Liability provides cover should members of the public receive an injury or property damage due to your work. This protects your business should a compensation claim be made, also covering any legal costs that result from this.
- Employers’ Liability provides cover for compensation claims and associated legal costs, arising from employee injury or work-related illness.
- Cyber Insurance provides support in the event of cyber-crime and unintentional data breaches, offering cover against the cost of revenue and fines.
Directors and Officers
- Directors and Officers insurance policies protect you financially against any claims that are made against you personally in your position as a director, partner or officer of your business.
Legal expenses insurance
- If you were involved in a legal battle, knowing that any money you spend on legal bills would be reimbursed could make all the difference. Legal expenses insurance does just that. It ensures that your business remains financially stable after a legal case by helping to compensate the business for incurred costs.
Contact us to find out more about the right cover for your business.