The role of professional indemnity insurance in the management of project risks
Language: English Series: Civil Engineering Surveyor ; April 2004, 30-32(2)Publication details: 2004Subject(s): Summary: Summarises the reasons for taking out professional indemnity insurance as a way for professional practitioners to protect themselves. Highlights that some policies limit the insurer's exposure to claims made solely on the basis of the consultant's negligence. Recommends some alternative methods for insuring project risk, such as transferring risk to members of the construction team by way of contract terms. Such risks are then usually insured by way of professional liability insurance. Warns that mismanagement of financial risk of construction has materially increased the costs of those risks in the past.| Item type | Current library | Call number | Copy number | Status | Barcode | |
|---|---|---|---|---|---|---|
| Journal article | London Journal article | ABS67743 (Browse shelf(Opens below)) | 1 | Available | 126062-1001 |
Summarises the reasons for taking out professional indemnity insurance as a way for professional practitioners to protect themselves. Highlights that some policies limit the insurer's exposure to claims made solely on the basis of the consultant's negligence. Recommends some alternative methods for insuring project risk, such as transferring risk to members of the construction team by way of contract terms. Such risks are then usually insured by way of professional liability insurance. Warns that mismanagement of financial risk of construction has materially increased the costs of those risks in the past.