RDi Insurance has been working with Underwriters to get wide ranging cover at a competitive price for Building Inspectors.
Over the last few years in New Zealand cover for Inspectors has been often hard to come by, potentially restricted in cover and a significant cost to the business.
There are several factors that have come together to create this situation.
The Leaky Buildings chaos of the early 2000’s certainly was a major source of concern for Insurers, and that problem is still working its way through – with Building Inspections now being a particular discipline which is affected.
The issue of Meth has also become more prominent in recent years, and needs a professional approach to assess it accurately.
Whilst the duties of and exposures have grown for the industry, it has not been quick to catch up with qualifications and training. Other sectors of Building and Allied Industries have been increasingly subjected to regulation, but the Buildings Inspection profession has been largely bypassed.
As a specialist broker, and part of the wider PSC group of brokerages, RDi has been able to negotiate with Insurers to provide a PI cover that affords well respected Inspectors a strong proposition of cover and premium, that is already making inroads in the New Zealand market.
For Inspectors with a high standard of Report, or who are willing to adopt Reports that meet exacting standards and are underwriter approved, the benefits could be significant.
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