Architecture and Engineering Services
The Insured was a project manager for the constructions of a group of retirement homes and adjoining clubhouse. The claimant alleged that the Insured caused them to pay a construction invoice for subcontractor fees under the mistaken belief that the entire sum was payable and also that the amount paid exceeded the total amount payable.
The matter went to mediation and the Insurer paid a settlement sum of $750,000 and an additional $100,000 in legal fees.
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. Cover for a claim will depend on the specific circumstances around the loss and would be subject to the terms and conditions of the policy concerned. As with any insurance, cover will be subject to the terms, conditions and exclusions contained in the policy wording. The information contained in this email is general only. Coverage for claims on the policy will be determined by the insurer, not BizCover for Brokers, and will depend on the specific facts and circumstances involved.