A design and 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 perform the physical construction or manufacture of products, goods, structures or buildings for which they provide professional services.
Cover for your professional work design and construct insurance can cover you against claims for financial loss arising out of an act, error or omission during 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 specialises in arranging insurance for the construction and engineering industries and has access to a broad range of insurers both locally and overseas.