Alexander Forbes Professions has launched Designed 2 Deliver (D2D), a professional indemnity insurance (PII) product.
Alexander Forbes says the product allows small and medium sized building contractors to benefit from a breadth of cover including immediate mitigation and novated design cover, that until now has only been available to larger design and build contractors.
D2D protects the client for the activities they undertake. In addition, it allows the automatic inclusion of new and acquired companies.
It also includes a ‘duty to warn' clause, meaning the insured is still covered in the event of their failure to warn the client of a potential problem.
D2D, which is underwritten by DA Constable Syndicate 386, is aimed at residential, industrial, retail, commercial, electrical and heating & ventilation contractors, as well as those involved in municipal buildings, such as schools, hospitals and prisons.
James Houlder, managing director, Alexander Forbes Professions, said: “Partnering and joint ventures are now commonplace and the increase of private finance initiatives and public-private partnerships has had a massive impact on the way that contracts are drawn up.
"Recognising this, D2D has fewer prescriptive clauses and covers new activities which contractors might undertake, giving them a significant advantage on similar products already in the market place. This can only be a positive step for the industry.”
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