Professional indemnity insurance—a better way

Over recent years, both large and small consultants have faced sharp increases in professional indemnity (PI) premiums and self-insured excesses. There are now real questions over future availability, and affordability, of cover. In many ways, PI insurance is ill-adapted to the modern complexities and demands of the construction industry, with its highly fragmented and interrelated roles. It is certainly not good at meeting the needs of clients and it propagates the conflicts and antagonisms that need to be left behind if the industry is to thrive. This paper explores some of these issues and looks at recent developments in project-specific insurance.