For many engineers, retirement marks the end of project deadlines, site visits, and professional obligations. However, one retired consulting engineer learned the hard way that professional liability can outlast a career by many years. Meet David After more than 35 years as a structural engineer, David decided it was time to retire. He had built…
Securing a new contract often means agreeing to higher insurance limits. Most engineers are happy to do it. What many don’t realise is that the increased premiums don’t stop when the project does, and failing to account for this upfront can quietly erode the profitability of otherwise well-priced work. This article explains how contract insurance…
All Australian jurisdictions have introduced strengthened work health and safety (WHS) regulations requiring employers to proactively manage psychosocial hazards. For engineering businesses these changes are highly relevant, as project-driven environments and technical workloads expose staff to a range of psychosocial risks. The reforms confirm that psychological health must be managed with the same discipline as…
In the world of engineering, precision and foresight are crucial. Yet when it comes to professional indemnity (PI) insurance, some engineers take a project-by-project approach – only purchasing coverage when required to secure a contract, and cancelling it once the project is complete. While this might seem like a cost-saving measure, the reality is that…
As EOFY approaches, engineers often review insurance at a high level. The risk is assuming your cover still matches your work and contracts.
Running an engineering business brings opportunity, but also risk. Professional indemnity insurance is essential, but so too are protections against cyber incidents and business disruption. Find out how the right cover safeguards your business.
Subcontracting offers flexibility, but it also increases responsibility and risk. In a soft insurance market, it’s tempting to focus on lower premiums, yet the wrong cover can leave your livelihood exposed. This article explores why the right insurance matters for subcontractors and how to safeguard your business in a shifting industry.
In just a few years, Australia’s insurance market has gone from one of the hardest in recent memory to one of the softest. Premiums are falling. Quotes are suddenly easy to come by. And a number of insurers who once pulled back from engineering risks are re-entering the market, looking to secure business they had not long ago declined to cover.
New risks for engineers as NSW rewrites proportionate liability rules. Legal changes in NSW mean engineers could face greater liability exposure. Learn what this means for your contracts, coverage and risk.
Why continuous professional indemnity insurance is essential for engineers In the world of engineering, precision and foresight are crucial. Yet, when it comes to professional indemnity (PI) insurance, some engineers take a project-by-project approach – only purchasing coverage when required to secure a contract, and cancelling it once the project is complete. While this might…
