I’ve finally decided that I am going to start my own company ( steelwork construction)
The main scope of the business will be fabrication drafting services for which I understand I will need some kind of PI insurance.
On occasion , I also intend to supply to various clients fully fabricated steel and have it erected.
The steel would be fabricated by a third party and erected by another 3rd party erection company.
Both these companies would have their own insurances , i.e employers liability, public indemnity etc, but would I , being the “project management company” as it were, need my own insurance in order to carry out these works ?
My main client requires £10 million cover.
I was just looking for a bit of advice if possible before engaging the services of a broker to arrange what I need ( don’t want to get ripped off for something I don’t need)
Thanks in advance

You’d be a subcontractor and if I was employing you (main contractor), then I’d expect to see public liability, employer’s liability and professional indemnity (which you’d have to maintain for 12 years after the work).

What size projects is your main client delivering and which insurance are they expecting to be £10m – PI?

Try Hiscox first, we’ve been with them years – mainly due to picking up a Public Sector contract where we needed PI.

Also ensure when you create the contracts for the 3rd parties you state ‘need own insurance, and evidenced’.

You can pm me if you want revs, business insurance is what i do (other than eating biscuits, but that’s not important right now).

If you’re supervising the contractors and the work is within your business scope ie steal work, it would be prudent to cover them on your insurance.

On another note, you will likely be required to provide collateral warranties, so make sure your insurer has experience of dealing with these. You may also need legal advice to check the wording of these warranties if it’s not something you’re used to agreeing.

As stated above, you will need to carry your own Employers & Public Liability even if you subcontract out all supply & installation work – even if only on a contingent liability basis (to protect yourself against a subcontractor’s own cover failing).

Collateral Warranties are a whole different ball-ache and, generally speaking are not directly insurable. A good solicitor who understands the industry can give advice although there are PI insurers out there that offer a ‘free’ checking service for their clients which will highlight any issue that would fall outside the scope of policy cover – AIG come to mind for this. It tends to be the CW that drives the need to carry PI for 12 years as this is the ‘normal’ period of them.

Thanks for the replies, Sandwicheater I have sent you an email (hopefully to the correct address)
The structures I would be supplying will only be temporary ( round about 6 months max) and will be dismantled and scrapped after use, so I don’t think that the collateral warranties side of things will come into it, but i am sure that these things will come out as I go along.

Sandwicheater – I may drop you a line too, if that’s ok, as I’m looking at setting up a ltd company (for IT contracting though).

STW is a very useful resource 😀

Might want to check your email though as its bouncing them back.

are you missing the double “l” ?
I was first time 😆