Cladding Exclusion Free
For Australian Certifiers
Building Certifiers have faced an uncertain future as their Professional Indemnity Insurance supply all but collapsed in the wake of the ‘cladding crisis’.
Since then PI Insurance free from ACP/Cladding exclusions has largely been unavailable in the market...
06/10/2020: RICS announcement:
After lengthy due diligence, Professional Indemnity Insurance (PII) without a ‘cladding exclusion’ became available last week through Lloyd’s of London for Australian building certifiers. Limits of $1m and $2m are now available.
Over the past 18 months, The Royal Institution of Chartered Surveyors (RICS) has been working with its local preferred broker Coverforce to develop an industry response to the problem of Building Certifiers being unable to obtain PII for claims, relating to aluminium composite panel.
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