Category: Uncategorized

  • Professional Indemnity – Contract and Tort Explained

    Professional Indemnity (PI) insurance cover protects you from the financial consequences of claims brought by clients or third parties who believe your actions have caused them injury, damage or financial loss. PI claims generally come about in one of two ways. Claims under contract Most claims arise when a client alleges you have failed in your duty to act in their best interests in accordance with the terms of a contract – either real or assumed – and/or to exercise reasonable care and skill. The fact that most PI claims are brought under contract makes it important that your contract…

  • Collateral Warranties & Professional Indemnity Insurance

    A collateral warranty is a warranty that gives a third party rights over an existing contract they are not a party to, writes Terry O’Malley. There are normally two parties to a collateral warranty, the warrantor, who provides the benefit of the warranty and the beneficiary, who is the recipient of the warranty. Professional consultants such as architects, engineers and contractors would usually provide a collateral warranty in a property development. The purpose of a collateral warranty agreement is to create a contractual link between the beneficiary and the warrantor. The benefits of collateral warranties: The beneficiary may be the…

  • Professional Indemnity | What happens when important documents go missing?

    Losing important documents when providing a professional service can prove very expensive indeed. If you mislay key documents, your client could have a case against you for a breach of your professional or contractual duties. The costs of losing documents Professional Indemnity (PI) insurance can protect you against the financial impact of such claims and the cost of your legal defence. But what a standard PI insurance policy won’t do is cover the expenses involved in reinstating any lost documents. These costs can be far from trivial. If you are an architect or an accountant, for example, reinstating lost, stolen…

  • General Building Contractor Liability Insurance & Demolition Cover

    Does a General Building Contractor liability insurance policy provide cover for demolition? Building Contractors are not always clear about what is covered under their liability insurance policy. A common query is the issue of demolition work. Is it covered or not? There are 2 key points to note here: 1. The business description on the policy is important. What does it say? Does it cover you as a ‘Building Contractor’ or a ‘Building Contractor & Demolition Contractor’? If you wish to do stand-alone demolition then the business description should include ‘Demolition Contractor’. 2. Read the policy terms & conditions –…

  • Does a General Building Contractor’s liability insurance policy cover roofing?

    It is obviously important to point out that every liability insurance policy is slightly different and there may be exclusions or restrictions on your liability insurance policy which restrict cover. Please contact your broker or insurer to discuss your specific requirements and cover. Most General Builder liability insurance policies provide cover for roofing works which form part of an overall contract for a new build or renovation. So if you are building a new house or an extension, the roofing work associated with that contract should normally be covered. The problem arises where builders decide to carry out Stand-Alone-Roofing contracts.…

  • Engineering inspection and insurance – an update

    The following blog discusses some of the changes brought about by the Safety Health & Welfare at Work (General Application) (Amendment) Regulations 2012 – Part 10 Pressure Systems. Further information is available from the Health & Safety Authority. From 1st January 2013, there have been significant changes to legislation relating to the use, examination and testing of pressure equipment & systems. Prior to 2013, the main systems that were required to be inspected were steam boilers, steam receivers & air receivers. Under the new regulations, any pressure vessel containing a relevant fluid will require regular examination by a competent person.…