What is Professional Indemnity Insurance?
Professional Indemnity (PI) Insurance is designed to protect professionals against claims made by their client or other third parties who claim to have suffered a loss as a result of alleged non-performance, breach of contract and/or professional negligence in the services provided. Even where a firm has done nothing wrong, the costs of defending a claim are significant, so the availability of PI insurance is seen as business-critical.
In recent years, many firms have struggled to access affordable and effective insurance protection as capacity within the insurance market has become severely restricted. This is driven by a range of factors but the impact on individuals and firms has been considerable.
Click here for additional information about PI for consulting engineers.
Griffiths & Armour is a leading firm of insurance brokers and risk managers with an outstanding reputation both nationally and globally.
As specialists in Professional Indemnity (PI) Insurance, with acknowledged expertise in construction, Griffiths & Armour act for over 2,500 Engineering consultancy firms. With an unrivalled record of delivering innovative insurance and risk management solutions that have been proven to stand the test of time, Griffiths & Armour has helped clients to navigate through the challenges in the PI market and come to the assistance of many firms who have failed to source a solution elsewhere.
In addition to the ongoing support provided to individual clients, Griffiths & Armour have a long-standing relationship with IStructE and have consistently supported the Institution in addressing insurance and liability issues affecting the profession.
Any firms with particular queries relating to their own PI Insurance arrangements or difficulties they have encountered at renewal can contact Griffiths & Armour at: [email protected]
Free webinars
In 2021, Griffiths & Armour, along with IStructE Ltd, put in place a framework to support members in the areas of PI Insurance and professional liability exposure. Through a series of webinars and publications, they have kept members up to date on developments within the insurance market, underlying risk trends and how best to prepare for your PI insurance renewal.
Following requests from members, we are pleased to provide access to two webinars:
1. Introductory video to the webinars
2. What is happening in the Professional Indemnity Insurance market?
3. Walking the line on risk and reward
Case studies
Through IStructE’s flagship publication, The Structural Engineer, Griffiths & Armour have produced a series of case studies looking at real claims examples and lessons to be learned. These articles can be accessed via the following links:
For more information on how we can help you, contact a member of the team by emailing: [email protected]
Griffiths & Armour is authorised and regulated by the Financial Conduct Authority