LIFE OF PII THERE IS DIFFICULTY WITH THE ISSUES AND COSTS MEMBERS FACE IN ACCESSING PROFESSIONAL INDEMNITY INSURANCE.
A
s a practitioner and
Working with the OGP
Society has recently conducted a tender
business owner, I am
In addition to engaging with the insurance
process for a PII partner. This process has now
only too aware of the
industry,
with
been completed and we look forward to
issue, and cost, of achieving adequate
Government and in particular the Office of
working with our chosen partner, Glennon
professional indemnity insurance (PII) cover at
Government Procurement (OGP). For their part,
Insurance, towards educating members in
present. From our central role in the
the OGP has also engaged extensively with our
relation to PII and engaging extensively with
Construction Industry Council (CIC), which I
industry, the insurance industry and the State
industry and other stakeholders in the
currently chair, and other groups, we know we
Claims Agency.
immediate future.
are not alone in this respect and it is a major
In our most recent meeting with the OGP, it is
Let me be clear, our engagement may not lead
issue for all professionals as well as main
clear that they have recognised this as a
to reduced premia for members. However, it is
contractors and specialist subcontractors.
significant issue for the industry and are
our hope that this engagement will mean that
While I was President of the Society, I received
actively reviewing a range of potential
members will have a forum to review their
many calls on this issue and continue to do so.
measures (if not solutions) that may assist
specific issues associated with PII and ensure
We have engaged with the insurance industry
industry in continuing to provide services to
that they are putting their best foot forward
extensively and it would appear that the issue
public sector clients.
whilst endeavouring to secure their required PII
is not likely to recede in the immediate future.
We have recently made a submission to them
cover.
They advise us the issue primarily relates to
in relation to the flexibility they will need to
As always, your input and sharing of issues
supply
of
provide on public sector projects, including a
is always welcome so please feel free to reach
underwriters have simply exited the market. In
detailed review of “Liability caps” which has
out to me or the Executive team with regard
addition, there are undoubtedly concerns to
been an issue for practitioners for many years.
to any issue. Feedback is absolutely critical
limit fire safety exposure for obvious reasons
However, while the public sector is looking at
to all we do.
and legacy matters relating to valuations
measures as to how to deal with this issue and
claims.
potential solutions, it now behoves us
This has resulted in major difficulties for
to outline to the private sector the
members across a number of professional
issues
groups in terms of significant increases in
encountered.
premium costs, despite practitioners frequently
These include, in particular,
having had no previous claims. They are also
client bodies, funders and
having difficulties in achieving the type of cover
indeed the legal profession
they require – for example, cover for “each and
and that will form part of our
every claim” as opposed to “in the aggregate”
engagement moving forward.
and indeed the limit of cover they require.
As part of this process, the
and
demand
as
a
number
THE LAST WORD Micheál Mahon Immediate Past President
34
SURVEYORS JOURNAL Volume 11, Issue 2, Summer 2021
we
that
have
are
also
engaged
being
