STRUCTURAL ENGINEER INSURANCE CASE STUDY
Structural Consultant and Quantity Surveyor, $5M PI and $20M PL on One Policy After Three Declines
Half structural engineering with temporary works and permanent works sign-off, half quantity surveying and concrete estimating. Two occupations on one ABN, and a client who wanted PI and liability with the same insurer.
THE SITUATION
A sole practitioner in metropolitan NSW asked Tank Insurance for professional indemnity and public liability. Half the work was structural engineering consulting, including temporary works design and sign-off and permanent building works sign-off; the other half was quantity surveying including concrete estimating. Turnover was around $150,000, projects were 60 per cent bridges, water treatment plants and civil works and 40 per cent residential, and nothing exceeded ten storeys.
The client held more than two decades of experience in Australia and overseas and wanted $5 million PI and $20 million public liability, preferably with one insurer.
OUR APPROACH
- Both occupations were declared with their turnover split, and the temporary works sign-off was named rather than folded into "structural consulting".
- Five markets were approached. Two declined on occupation, one declined the PI, one quoted PI only at around $7,300, and one quoted PI and public liability together at approximately $7,600.
- Lifting studies were checked before binding. The client designs special cleats and precast concrete elements, around 5 per cent of turnover, but no cranes, chains, spreader beams or lifting equipment. The underwriter confirmed cover with no change to premium.
THE CHALLENGES
Temporary works sign-off can narrow the market. It carries responsibility for structures that exist only during construction, when the site is at its most active, and two of the five markets approached declined the occupation here. Quantity surveying on the same ABN adds a second occupation to rate. The market that quoted priced both on one policy because both were disclosed precisely.
THE OUTCOME
$5 million professional indemnity and $20 million public liability were placed with Ocean Underwriting on one policy at a combined premium of approximately $7,600 a year, with lifting studies confirmed within cover.
Final Solution: $5 million PI and $20 million liability for a structural consultant and quantity surveyor at around $7,600 a year with one insurer.
This case records one historical outcome; current insurer appetite, premium, timing and terms depend on the complete risk at the time of application.
For the wider buying context, see our structural engineer insurance guide and the quantity surveyor PI page.
STRUCTURAL CONSULTANT QUESTIONS
What this placement answers for other structural consultants
How much does PI cost for a structural engineer who also does quantity surveying?
Does temporary works sign-off affect structural engineering PI?
Are lifting studies covered under structural engineering PI?
STRUCTURAL ENGINEER INSURANCE
Put this placement in context
Case-study results are historical and are not a promise of current pricing, capacity or policy terms. This page is general information only and does not take account of your objectives, financial situation or needs.
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