Annual Construction Co PI and Liability
Large contracting companies generally provide a broad range of services, requiring the skills of specialist contractors, architects, engineers, surveyors and many other consultants and professionals in the build environment. In each one of these disciplines there resides a certain amount of professional risk and the exposures generally need to be managed via specialist liability and professional indemnity covers.
We provide annually renewable policies for large contracting and construction companies operating in this space. Cover is generally a combination of Professional Indemnity, First Party Rectification and Broadform Liability.
This business unit at SHA employs a particular, specialist skillset in assessing and underwriting the legal liabilities and professional risks in contracting and engineering sectors.
Cover options
Various combinations of cover are available for contracting companies in this sector. Generally the specialist insurance program from SHA would provide options of cover on the following
Professional indemnity
PI cover for all the professional activities of the insured in the build environment (and their professional subcontractors)
Prior to handover
Cover includes first party rectification/mitigation coverage prior to handover in respect of losses arising out of professional services.
Legal liability
Legal liability for third party injury or damage to property arising out of construction activities. Policy can also be extended to cover
employers liability and motor excess of loss.
Capacity
The level of capacity (limit of indemnity) provided by SHA depends on a number of variables that would be assessed during the underwriting process.
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ClaimsWhy insure with SHA?
Solutions
Unique, bespoke solutions carefully crafted for complex risks and projects
Longevity
Project and construction PI claims can take many years to be discovered and then even longer to be resolved. SHA has over 35 years of experience in handling long tail, complex claims effectively.
Strength
Claims in this sector can be volatile and substantial. SHA as a division of Santam Ltd, being the largest short term insurer, is adequately supported manage these exposures.ANNUAL CONSTRUCTION CO PI AND LIABILITY FAQS
What key information is required to get a quote?
SHA only transacts business via licensed insurance brokers. A proposal form is required and can be downloaded here on our website. See the downloads block on this page plus any additional information that helps paint a clear picture of the insured business should also be submitted such as brochures, website details surveys etc.
