Claim Example
Professional Indemnity
Product
Professional Indemnity
Occupation
Structural Engineer
Industry Segment
Architect & Engineering Services
Claim Description
A structural engineer was named as one of five defendants in state supreme court proceedings regarding a property that had undergone extensive renovations and extensions. The property owner alleged that the engineer was professionally negligent, and that work they had conducted on the property contributed to flooding of the flooring.
Outcome
The structural engineer’s insurer appointed solicitors to act on their behalf, and the matter was eventually resolved through negotiation following a mediation. The insurer paid a total of $458,338 in settlement payment and defence costs (after the engineer paid the $5,000 excess).
The provision of the claims examples are for illustrative purposes only and should not be seen as an indication as to how any potential claim will be assessed or accepted. Coverage for claims on the policy will be determined by the insurer, not BizCover for Brokers.