Essential insurance for entrepreneurial engineers: A comprehensive guide
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Essential insurance for entrepreneurial engineers: A comprehensive guide

Byshowtell

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….

Excess layer insurance equals complete peace of mind for engineers
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Excess layer insurance equals complete peace of mind for engineers

Byshowtell

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…

Insurance claims against Australian engineers continue to rise

Insurance claims against Australian engineers continue to rise

Byshowtell

Engineers assess risks for a living, but the cost of failing to adequately protect your practice presents unexpected problems. Imagine you’re a self-employed civil engineer awarded a tender by a local construction firm to conduct a topographical survey and detailed design to upgrade a private road. Not only is it a fantastic project in your…

Free webinar: How engineers can navigate the PI Insurance storm.
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Free webinar: How engineers can navigate the PI Insurance storm.

Byshowtell

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. 

Is it common for Professional Indemnity Insurance coverage to be changed by the insurer without notice?
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Is it common for Professional Indemnity Insurance coverage to be changed by the insurer without notice?

Byshowtell

Under the current insurance market conditions, it is becoming increasingly common for engineers to find their PI Insurance cover has altered in some way at renewal. Below we explain the reasons behind this and some things you can do to assist in achieving the best available insurance coverage for your business. 

Understanding PI insurance: How to stay covered
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Understanding PI insurance: How to stay covered

Byshowtell

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…

Professional Indemnity Insurance Tips
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Professional Indemnity Insurance Tips

Byshowtell

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…

Professional Indemnity Insurance – Frequently Asked Questions
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Professional Indemnity Insurance – Frequently Asked Questions

Byshowtell

Why is PI insurance required? Professionals such as engineers are considered experts in their field, and as such are presenting themselves as having special skills or expertise on which members of the community can rely. This reliance attracts a duty of care. If a professional engineer breaches their duty of care by making an error…