Cyber-attacks are ranked as one of the top three business risks globally for 2021 (Allianz Risk Barometer, 2021). Engineering businesses rely on technology more than ever before, and the global pandemic has only served to heighten this dependency. It is this reliance on tech which has seen cyber-attacks become a highly lucrative crime, and drive…
Any company or individual that provides professional advice or services can be held liable for financial loss that occurs as a result of an act, error or omission in carrying out their work. Does this apply to you? If so, it might be time to purchase Professional Indemnity Insurance for your engineering business. What is…
A large number of engineering businesses across many different disciplines are currently grappling with sky rocketing Professional Indemnity (PI) Insurance premiums. Below we provide an update on the current state of the PI Insurance market, explain why premiums are increasing, the disciplines most affected, and steps you can take to help minimise premium increases, and…
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…
“What limit of Professional Indemnity (PI) Insurance cover do I need?” You’re not alone, this is a question asked by a vast number of engineers when researching and requesting PI insurance cover. Unfortunately until delving deeper into the details of your business, the answer initially equates to “how long is a piece of string?” This…
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