Built Environment – Project and Construction Managers
Bespoke Professional Indemnity, Fidelity Guarantee and Third Party Impersonation Fraud Policy for Project and Construction Managers
With the rising need for Construction and Project Managers on all construction projects regardless of their size, and the increased responsibilities to manage a number of activities throughout the project such as cost overruns, schedule delays, client communication, project initiation and completion, safety on site and contractor payment certification to name a few, Project Managers are easily the first to receive blame when things go wrong.
Litigation can be financially damaging.
Genoa has built a bespoke liability product for our Construction and Project Managers that provides cover against legal liability following errors and omissions made during the scope of business.
WHY CHOOSE GENOA?
As Genoas footprint in the liability space continues to grow from strength to strength, we thought we would share with you why more and more brokers are choosing to work with us as their partner of choice:
Our Underwriters are committed to providing our clients with superior turnaround times when issuing quotations and schedules of cover
Our underwriters are experts in their respective fields and are able to offer our clients technical advice which helps empower them to secure an account
We have strong working relationships with the top re-insurers in the country including Munich Re and Swiss Re who support all of our Professional Indemnity products
Through strategic reinsurance partnerships we are able to offer competitive market premiums
Our policies include a number of meaningful extensions that offer true value to our thousands of Insured clients
Our Insured Practitioners are represented by the top law firms in the country, including firms like Clyde & Co, Garlicke & Bousfield, Mac Robert Attorneys, Norton Rose Fulbright and Webber Wentzel
OUR COVER CAN INCLUDE:
Our cover against errors and omissions are very wide and we offer the following extensions:
Claims Preparation Costs
Employee fraud and dishonesty
Loss of Documents
Sub-agents, Sub-consultants and Sub-contractors
Fidelity Guarantee Cover
Indemnifies the Insured (the employer) for the loss of business account funds or property sustained as a direct result of acts of fraud, theft, or dishonesty by an employee in the course of employment.
Insured can elect to take out cover in one of 3 ways:
Blanket Basis – this covers all staff members who hold a valid employment contract.
Named Position Basis – this covers staff in various positions within the organisation.
Named Person Basis – this covers specific specified staff within the firm.
Third-Party Impersonation Fraud
Covers the Insured against the loss of money (business and trust funds) subject to the insured having a Verification process in place
The provides protection against legal liability for claims arising out of accidental death, bodily injury, illness or disease of or to any person; or accidental loss of possession or control of, or actual damage to property arising out of, and in the course of business.