On any construction project, even a small mistake could grow into a large and costly claim. When you're responsible for complex risks and your business relies on reputation, you need a Professional Indemnity offering that provides comprehensive cover bespoke to you.
As trusted advisers, we value the business of every one of our clients, placing them at the front and centre of what we do. As industry specialists, we provide an end-to-end service that gives you access to on-hand claims and risk management teams and a dedicated account executive who is only a phone call away.
Thanks to the level of service and attention to detail that we offer, Lockton are privileged to represent more than 350 Architects & Engineers in the UK accounting for over £35m in Gross Written Premium (GWP) into the UK market. Geographically, this is spread evenly across our four hubs – London, Bristol, Edinburgh and Manchester.
We can help with all of your risk transfer needs, no matter your business size, and our global reach means we can mitigate those exposures which you face - no matter where your projects take you. We take a hands-on approach to risk management, proactively helping our clients to reduce their claims and rewarding them when they do.
Our insurer partnerships are as important as our expertise. We carefully select the right insurers to get you the best deal, both in terms of price and security. We always use our considerable market influence and sway to work for you and in your firm's interests.
| Problem | Solution | Value added |
|---|---|---|
| Many designers are asked to sign a contract imposing strict fitness for purpose obligations. But fitness for purpose is not usually available in the PII market | To fill the gap between a standard PII policy and the contractual requirements, Lockton wrote a bespoke fitness for purpose endorsement | Maximum protection provided, allowing more contentious contracts to be signed safe in the knowledge that any such claim would be adequately covered. |
| Alliance/partnering project requirements have been common in some territories historically, but the pain/gain share mechanism means a traditional 'claim' may not be made to trigger the PI policy. | To amend the claims notification conditions to reflect the alliance/ partnering philosophy as far as possible, with a built-in facility to provide cover for the unique loss mechanism in contract. | Your ability to compete on the particular tender in question and comfort in knowing that there are no uninsured exposures. |
| With the tragic events of Grenfell Tower overshadowing the PII market, insurers seek to apply ACM and/or 'Fire Safety' exclusions which can greatly limit existing cover. | Lockton seek to negotiate each and every policy adequately to ensure maximum coverage is available. In many cases, this means that there is cover for ACM and Fire Safety related matters which is normally difficult to obtain | Owing to the 'claims-made' nature of PII, our clients benefit from not only having the broadest coverage available, but are also free to compete for contracts that require appropriate coverage. |