Frequently Asked Questions

What is Principal Indemnity?

Principal indemnity is provided where one party to a contract agrees to “indemnify” or otherwise exempt the principal from their Common Law and/or statutory liability in the contract. There are different levels of indemnity including hold harmless agreements, it is important to review and understand these requirements in your contracts so that you can obtain the suitable insurance coverage as most standard liability policies exclude contractual Liability which is further than that which is found within incidental contracts.

What is Proportionate Liability?

Proportionate liability is something that enables courts to apportion the responsibility for a damages claim amongst each wrongdoer in proportion to the amount considered just by the courts. The legislation which governs proportionate liability varies in each State and Territory in Australia.

What is Contract Works or Construction all Risks?

Contract works insurance is an insurance for builders and other tradesmen, designed to cover work that’s underway on a site. It can pay to repair or redo the work that’s in progress if it’s damaged by an insured event like fire, flood, storm, vandalism or theft. Covers accidental risks of physical loss or physical damage including theft to the contract works during construction as well as third party liabilities.

What is Asbestos Liability and what does it cover?

Asbestos exposure is excluded from most insurance policies that is why if you are dealing with Asbestos you need to ensure you have Asbestos Liability package cover. Asbestos Liability pays compensation as a result of a claim for injury and/or damage as a result of your business . Additional extensions available:

  • Claims Made or occurrence Liability
  • Errors and Omissions
  • Statutory Liability
  • Professional Indemnity
  • Contractors Environmental Liability

What does Plant & Equipment Insurance cover?

Covering all vehicles and mobile equipment including all attachments/accessories for property damage and liability anywhere within Australia.  Additional options that can be included are below –

  • Hired in plant
  • Damage waivers
  • Breakdown
  • Loss of revenue
  • Increased costs of working

What is Design & Construct Insurance or Professional Indemnity?

Design and Construct (D&C) insurance policy is a Civil Liability (PI) insurance policy, specifically designed to cater to companies that perform the physical construction or installation but also have exposure to professional services/advice even if it’s only incidental or contracted out. The policy protects your business against legal costs and claims by third parties for damages arising from acts, omissions or breaches of professional duty in the course of your business. Benefits include:

  • Breach of Confidentiality
  • Continuous Cover
  • Defamation
  • Extended Policy Period
  • Fraud & Dishonesty
  • Intellectual Property Rights
  • Interference with Privacy
  • Joint Ventures
  • Loss of Documents
  • New Subsidiaries
  • Reinstatement (Optional)
  • Professional Inquiries
  • Spouses, Estates & Representatives
  • Vicarious Liability