Talk to us about Insurance For Engineers
Behind The Blueprint Is An Insurance Policy That Works For You, Every Time.
If you’re in the engineering industry, there is a unique set of risks and challenges that you face, which aren’t covered by generalist insurance policies. As a civil, structural, mechanical or electrical engineer, you need guidance from a broker who understands the unique liabilities and challenges of your industry.
At Barrack Broking, we’re proud to be exactly that. The engineering industry means that engineers are at risk of claims arising due to errors, omissions, design negligence, calculations and general advice that can lead to structural failures, project delays or even financial loss for the client.
As specialist brokers, we understand the specific challenges and risks in your industry so that we can help you find an insurance policy that ticks all your boxes. Don’t go it alone, we’ll be your partner on the market, from start to finish.
Risks For Engineers
Standard insurance and generic policies often have coverage limitations that leave engineers vulnerable. The truth is, even the smallest error can lead to catastrophic damage to a client or their project, resulting in legal claims and action taken against the engineer.
So, what are the unique risks that engineers face that general policies just fall short for?
Professional Indemnity
This protects engineers when claims of financial loss arise due to professional negligence, errors or mistakes for the services provided to their client. This can be design imperfections, incorrect calculations or miscalculated deadlines. Essentially, if you’re required to sign off on a project’s certificates, you could be liable for any of the above.
Where property damage or personal injury is caused by you, or your business’s activities on site (or by the products supplied by you), claims may be made. For engineers who conduct site visits or assessments, this is particularly important as poor site advice may cause physical accidents and injuries.
If your business or work involves confidential project plans or integrating project management software, cyber liability could be something you need protection against. This would cover any financial loss or expenses incurred for cyber attacks, data breaches or system attacks.
A More Tailored Approach With Barrack Broking
We understand that not every engineer specialises in the same field, work or area. So, you may face particularly niche challenges that most insurance policies won’t cover you for. At Barrack Broking, we’re dedicated to ensuring you’re appropriately covered so you’re not vulnerable when you’re just trying to do your job.
That’s why we leverage our industry knowledge and expertise to negotiate comprehensive and tailored packages for your insurance policy. This can include:
- Management Liability: Where claims against wrongful acts of management arise, such as Work Health and Safety law breaches or defamation, management liability protects directors against legal action.
- Project/ Contract Insurance: This is coverage for any damage that occurs to a specific contract or project work.
- Business Interruption: If an event like a fire, storm or office damage occurs, this protects your business’s revenue and income in the meantime.
- Tools of Trade: As an engineer, there is likely a wide range of specialised equipment that you rely on or use regularly to complete your work (i.e. testing equipment or a computer). Tool insurance ensures that your equipment is covered for any damage, so your business isn’t impacted during this time.
Why Choose Barrack Broking?
At Barrack Broking, we’re the experts. So, when you need to find an insurance policy that works for you and covers your unique risks, we’ll make sure to find you the best terms. We leverage our industry expertise and knowledge to navigate the market for you and negotiate the best conditions and pricing for your insurance policy.
Your unique risks as an engineer need to be protected, and you shouldn’t wait until it’s too late. When you need it most, you’ll want assurance that everything is in place to protect you and your business. So, we’ll find you a policy that protects all aspects of your profession, and if you need to make a claim, we’ll manage the entire process from start to finish.
Specialist Insurance With Barrack Broking: Get Started Today
Get protected today with Barrack Broking as your insurance partner in the market. We understand that navigating it alone can be overwhelming, so why not let us take control?
We’re market experts, and we’ll guide you every step of the way. Get started with us today.
