Three Policies. Two Exclusions. One Serious Gap.

A sole-trader engineering geologist based in Sydney approached us for Professional Indemnity and Public Liability cover. The business was primarily residential with annual revenue of around $200,000.

The scope of work was broad for a sole operator: geotechnical reports, slope-stability assessments, site classifications, pre-purchase reports, dilapidation reports, acid sulfate reports, infiltration testing, building certificates, and foundation and excavation inspections. Subcontractors were used for drilling only.

Two activities stood out as potential exclusion triggers: pre-purchase reports and building certificates. Both are core, revenue-generating services. Both, as it turned out, were explicitly excluded by the cheapest insurer on the market.

We ran a detailed policy wording comparison across three insurers - Vero, AIG, and BHSI (Berkshire Hathaway Specialty Insurance) - alongside approaching specialist underwriters directly, including Dual. The goal wasn't just to find the cheapest price - it was to identify which policies actually covered the activities this engineer performs.

From the specialist market, one insurer declined the entire enquiry - geotechnical work was outside appetite at this revenue size, and pre-purchase reports were explicitly excluded from their programme regardless. Dual asked qualifying questions around coastal area exposure and high-rise involvement before indicating appetite and quoting around $11,000 at the $5M level.

The wording comparison revealed significant gaps between the three options:

• Vero - around $3,500 - the cheapest option and the most dangerous. The policy explicitly excluded "pre-purchase building inspections" and building certification. Two of this engineer's core, weekly revenue-generating services were completely uninsured. Recommending this policy would have left the client severely exposed.
• AIG - around $10,000 - the most expensive option. Still flawed. The wording excluded "building surveying or building certification." The building certificate work was uninsured despite the premium being nearly three times Vero's.
• BHSI - around $7,000 - the only policy that actually covered pre-purchase reports and building certificates. It also included vicarious liability for drilling subcontractors and an unlimited retroactive date.

From the specialist market, one underwriter declined outright - geotechnical work was outside appetite at this revenue level, and pre-purchase reports were a specific exclusion. Dual was comfortable after confirming no coastal area exposure and no high-rise buildings above five storeys, quoting around $11,000 at $5M.

"Pre-purchase reports" is a specific exclusion trigger that catches engineering geologists who do property-related work. Most clients would never think to check for this in their policy wording.