Professional Indemnity Insurance for Project Managers
Professional Indemnity Insurance Projects Managers - Fast, Affordable, Simple. Contact Morgan Insurance Brokers today.
Professional Indemnity Insurance for Project Managers
Professional Indemnity Insurance Projects Managers - Fast, Affordable, Simple. Contact Morgan Insurance Brokers today.
Professional Indemnity Insurance for Project Managers
Project Managers have a large responsibility in creating a viable project, planning & outlining all the tasks and steps, organise all the resources, manage a team of people, a budget, and mitigate any unexpected issues.
Like any project, issues, delays, and concerns can arise that could delay a project, or increase the budget. If issues like this are a direct result of your services, and result in financial loss to the project, you could be liable for these costs.
Professional Indemnity Insurance can protect you for these considerations.
What does Professional Indemnity cover?
Professional Indemnity for a Project Manager can protect against third-party claims brought against them for a breach of professional duty. This differs from Public Liability Insurance, as Public Liability Insurance relates to claims for costs that relate to physical injuries, whereas Professional Indemnity Insurance relates to financial losses as a result of your professional services.An example of a Professional Indemnity Claim for a Project manager could be;A project manager is engaged to plan the construction of a new warehouse. The project manager doesn't review the blueprints and construction materials adequately. Due to this, the building isn't constructed with proper construction and requires the owner of the warehouse to reconstruct areas with faulty construction materials. This cost is then passed on to the project manager. A Professional Indemnity Insurance policy could pay for these costs.
What Does Public Liability Insurance Cover?
Public Liability insurance protects a Project Manager for claims brought against them for injuries as a result of slips, trips, falls, or other physical injuries.Examples of Public Liability Claims for a Project Manager could be:A client, a tradesman, a member of the public etc are injured on a site that you are managing. This could include being injured by machinery or equipment.A third party enters your office and injuries themselves as a result of your negligence.
How Morgan Insurance Brokers can help Project Managers with Professional Indemnity & Public Liability Insurance
Morgan Insurance Brokers are professionals who help Project Management businesses find and secure Professional Indemnity & Public Liability Insurance policies that can protect their business, their work, and their reputation.
