|  |  |  |  | |  | Resources Professional indemnity insurance … good news from Howden UK6th December 20046 December 2004 - Leading Lloyd’s broker Howden UK has joined forces with A G Doré, a specialist professional indemnity underwriter, to create the only PI offering in the marketplace tailored exclusively to meet the needs of geotechnical and environmental engineers.
For the first time in recent years, geotechs and environmental engineers will be able to access affordable professional indemnity (PI) insurance with broad cover tailored for the needs of the industry. Unlike any other policy in the market, this bespoke policy will include an amount of negligence cover for bodily injury, property damage and pollution exposures and A G Doré will be providing 100% of primary cover up to £2 million. A G Doré can offer higher limits of cover with pre-agreed market support.
Lance Rigby, Executive Director at Howden UK comments: “The market for geotechnical and environmental engineers has been severely restricted over recent years, almost to the point of being non-existent. As a result rates have become unaffordable for many firms, forcing some to operate without cover – leaving them drastically exposed. Despite the recent softening in the insurance market, geotechnical and environmental engineers are still viewed by many insurers as high risk and so are still likely to experience high premiums and restricted cover.
“As specialists in broking risks for the construction industry, Howden recognises that rather than a high risk, geotechnical and environmental engineers have a strong ethos of risk management by the vary nature of their work and this should be recognised and rewarded by the insurance industry. We’re delighted that we’ve found a partner in A G Doré who has both the knowledge and understanding of geotech and environmental work, and who is willing to create bespoke wording at a rate that these firms can afford.”
Warren Jones, Service Company Manager at A G Doré, advises that: “The Syndicate understands the risks and liabilities involved in this sector of industry and have tailored our Professional Indemnity product to fit with these exposures. We are keen to work with clients that show a high level of professionalism and risk management, who will get the benefit of our product at affordable rates.”
Howden UK focuses on developing specialist offerings for the construction and environmental industry, and has particular expertise creating bespoke wordings for those sectors exposed to hazardous risks. It was appointed by scenta as its preferred broker to the UK engineering community, launching the insurancescenta scheme at the beginning of 2004.
Syndicate 2526 is a specialist PI Lloyds Syndicate managed by Abacus Syndicates Ltd writing primarily UK and Western European business. The underwriting team has in excess of 40 years experience as leaders of the class in the London market and are well known for writing Primary Lead business through a focused distribution network of specialist Professional Liability Brokers.
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