Insurances: Typical Cover and Professional Indemnity Insurance

Description

This Skill Bit explains various insurance policies commonly requested by customers in EPC contracts to manage risks associated with construction, professional errors, and third-party claims. It focuses on Professional Indemnity Insurance (PI), highlighting its crucial role in protecting design professionals, such as engineers and architects, from financial losses resulting from errors or negligence in their work on the project, ensuring adequate risk management throughout the contract lifecycle.

Duration approx. 4 Min.

Tier: proficiency