A Design & Construct insurance policy is a Professional Indemnity insurance policy, specifically designed for businesses that have responsibility for the provision of any design, advice or other professional services and also perform the physical construction or manufacture of products, goods, structures or buildings for which they provided the professional services.
Design & Construct insurance covers you against claims for financial loss arising out of an act, error or omission in the course of your professional activities and duties.
Any professional who provides designs or advice and is involved in, or responsible for, physical construction, should consider a Design and Construct policy.
A standard Professional Indemnity policy is appropriate for a professional who only gives advice or supplies designs, but once the business becomes responsible for the actual construction of a building, a Design and Construct Insurance policy may be more suitable.
BRIC specialise in arranging insurance for the construction and engineering industries and have access to a broad range of insurers both locally and overseas.
This capability has been recognised by the Australian Institute of Building Surveyors, Consult Australia, Engineers Australia, the Australian Institute of Marine Surveyors and the Building Commission of Victoria, the Department of Environment and Planning NSW, and many others.