Professional Indemnity

Professional Indemnity

PROFESSIONAL INDEMNITY

Architects & Engineers faced numerous civil and legal obligations in event of negligence allegation or failure fulfilling their professionalism.

GRINWEIV Architect & Engineers Pro Indemnity Insurance is forged to response against wide range of claims notifications, to protect the reputation and financial liquidity of our clients.

Core Benefits

  • Advancement of defence costs and investigation costs
  • Continuous cover for past projects that are not under claim notification or investigation
  • Defence costs reimbursement up to policy limit
  • New subsidiary automatic cover
  • Unintentional wrongful professional advises &/or services

Extended Benefits

  • Breach of Confidentiality
  • Compensation for Court Attendance
  • Crisis Management Expenses Cover
  • Defamation
  • Extended Notification Period
  • Fraud and Dishonesty
  • Intellectual Property
  • Joint Ventures
  • Keyman Loss Extension
  • Loss of Documents
  • Transaction Run Off Cover
  • Vicarious Liability Cover

Optional Benefits

  • Mitigation Cover
  • Disputed Fees
  • Principals Indemnity Limit
  • Reinstatement of Limit
  • Guaranteed renewal rates

Common Exclusions
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  • Non-compliance of professional conduct such as deliberate acts
  • Non-compliance of statutory requirement of materials used
  • Director’s Liability
  • Insolvency
  • Cyber Attack

Common Architecture Design Flaws in Private Homes

  • Awkward spaces
  • Bad materials
  • Improper sizing of windows
  • Not enough lightings
  • Not enough natural light
  • Outdated or irrelevant design
  • Too much storage space

FOR MORE INFORMATION, PLEASE CONTACT:

Get A Quote

Max Lee

Senior Risk Specialist
Portfolio Manager for A&E Pro Indemnity
+65 9838 8482
Email: max@grinweiv.com

Justina Low

Risk Specialist
+65 9747 1303
Email: justina@grinweiv.com

Frequently Asked Questions

Does licensed architect firms require a professional indemnity liability insurance?

Yes. It is mentioned in Architect Act Part VI, Clause 24.

What is the sum assured that my firm should apply?

Depending on your contractual requirements and annual turnover. The common limit applied ranges from S$1Mil to S$3Mil.

What is the territorial coverage?

Usually the policy offers worldwide excluding USA & Canada cover. Firms can request to include USA & Canada cover with additional premium.

Is there deductible in the policy?

Yes. The usual deductible is $10,000 and shall be higher if cover is extended to USA & Canada.

What are the common exclusions?

Insolvency and deliberate acts of fraud and dishonesty.

Can my firm appoint our preferred lawyers against a lawsuit?

Yes you can subject to the terms and conditions of the policy.

Does the policy extend cover to my professional staffs?

Yes. They are covered under vicarious liability.