Benefits

Single Project PI provides a number of benefits, including:

• The insured limit of indemnity only covers the specified project - it cannot be eroded by claims from other projects, as can be the case when relying on a contractor's annual insurance;
• Premium and terms are fixed for the period of insurance, which can be up to 10 years;
• The policy cannot be altered or cancelled by insurers. Normally annual policies can alter at renewal and possibly not comply with the requirements of the original contract;
• Where joint ventures are involved, there may be inconsistent insurance terms due to the multitude of policies. The potential exposure this creates is eliminated by Single Project PI;
• A smoother claims process - removes potential disputes arising from different insurers and policies.

For more information download our Single Project PI brochure