E&O Project specific
Project owners in both the private and public sectors are more and more requiring that a project specific professional liability insurance policy be put in place. It provides assurance that all professionals are insured, that the limits cannot be eroded by claims from other projects and that adequate limits are in place.
Regardless of who controls the insurance, the professional’s bids should be reduced to reflect that specific project’s fees won’t be insured on their practice policies, therefore offsetting the costs of the policy. Evolution’s policy provides dedicated limits and insures all the professionals working on a specific project.
Appetite and capacity
Evolution Insurance is a specialist in risks inherent to the construction industry and is a key market for your needs for multi-year project E&O insurance. With its extensive experience and expertise, Evolution Insurance can consider any type of projects in Canada or abroad. Evolution Insurance offers dedicated limits of up to $25M, coverage for all professionals involved in the project, retroactive coverage to first design as well as flexibility regarding the extended reporting period length or other specific requirement.