As the year draws to a close, we would like to take this opportunity to thank our valued customers, partners and colleagues for your trust and support throughout 2024. We’re proud to provide tailored insurance solutions to the engineering community, and we look forward to continuing this journey of professionalism and excellence together in the…
There’s a lot to like about starting and running your own engineering business, including freedom and flexibility. As your own boss, you have the freedom to set your own schedule, giving you control over your working hours…and your income. You can strategically book clients to increase your earnings, or prioritise downtime by accepting fewer jobs….
Engineering is a highly specialised and complex industry, more so than ever in today’s increasingly regulated environment Any company or individual providing professional advice or services that can significantly impact clients’ lives and businesses – including engineers, consultants, builders and designers – are at risk of claims related to breaches of professional duty. This means…
The EngInsure office will close on Christmas Day, Monday 25 December 2023, Boxing Day, Tuesday 26 December 2023 and New Year Day, Monday 1 January 2024. We will reopen at 8:30am on Tuesday 2 January 2024. From the EngInsure team, we’d like to wish you and your family a Merry Christmas and Happy New Year! …
Insurance contracts play a pivotal role in the risk management strategies of businesses, and engineering firms are no exception. It is critical for business owners to comprehend the nuances of such contracts, particularly the terms ‘Named Insured’ and ‘Interested Party’. This article aims to elucidate these concepts in a clear and comprehensive manner. To explain…
Engineers across many disciplines are grappling with skyrocketing Professional Indemnity (PI) Insurance premiums and unprecedented market conditions. The challenge of securing suitable PI Insurance cover only continues to grow.
With PI Insurance being a legal or contractual requirement for many engineers, market conditions persist to pose a major issue for many practices. Watch our free webinar recording and hear from a leading PI Insurer and engineering legal specialist, who will help you better understand how to combat this PI Insurance storm.
Does your Business Insurance still align with your risk exposures? The risks your engineering firm faces are continually evolving – particularly in today’s economy. Whether it be the purchase or sale of assets, new legislation, developments in technology, a modification of your engineering business activities, or a change in operating location, it is crucial to…
Professional indemnity (PI) insurance can keep you covered for past projects and well into the future, as long as you follow some key rules. An engineer, in their daily work, sells themselves to their client as an expert. The client relies on the engineer to provide trusted professional advice and make decisions on their behalf…
In our experience, there are 5 common areas we see many engineers being let down by their Professional Indemnity (PI) policy. With allegations against engineers for breaches of professional duty becoming increasingly common, it is essential your PI insurance responds to provide financial protection in the event of a claim. Unfortunately, unwanted “hiccups” often occur come…
Know what to look out for when it comes to Professional Indemnity Insurance… 1. Business activities Your business description MUST accurately describe your business activities. Example: To an insurer, a mechanical engineer working on the mines has a very different risk exposure to a mechanical engineer working on building services. Failing to adequately disclose the…
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