What is PI insurance?
Professional Indemnity (PI) insurance can help protect your business if a client claims there’s a problem with the work you’ve completed for them. It can cover your costs if you need to pay compensation to correct a mistake or settle a claim, and covers the cost of your legal defence.
Professional indemnity insurance can provide invaluable cover for Elmhurst Energy Assessors providing professional advice or services to clients which could be challenged.
At its core the PI insurance offered by Elmhurst Insurance Services would cover you against the following:
• Negligence or breach of duty: should you fail in a duty of care to your client, perhaps giving incorrect advice or making a mistake in your work
• Advertising: mistakes such as inadvertently making a misstatement that you cannot substantiate
• Sub-contractors and outsourcers: work undertaken on your behalf is treated as if it was done by you – however, we will reserve the right to recover losses from your subcontractors or outsourcers
• Dishonesty of your partners, directors, employees, sub-contractors and outsourcers – claims made against you and your own direct financial losses
Why do I need enhanced insurance cover?
Elmhurst’s insurance policy currently provides free PI cover up to the value of £10 million. This policy covers the activities of Elmhurst accredited members for the the production of Energy Certificates and reports from other related disciplines.
However, additional activities commonly undertaken by energy assessors such as offering binding and non-verbal advice, producing adhoc reports, providing explanations, and also giving guidance to property owners, is not covered by this policy. These activities are crucial for energy assessors who want to deliver a full energy assessment and advice service to their clients.
With this enhanced PI cover, Elmhurst members will have the appropriate cover to undertake the following activities:
• Energy assessment using the methodology for which the assessor is accredited, but where the reports are not submitted to Elmhurst
• Production of ad hoc reports to demonstrate the viability of energy saving improvements
• Floor plan diagrams for use by the agent in promoting the property for sale or rent
• Photographs for use by the agent in promoting the property for sale or rent
• Energy saving actions that the occupants can do for themselves
• Explanation of the energy assessment methodology
• Referring building owners to the government endorsed list of approved installers that are able to deliver the recommended measure
• Advice on energy efficiency legislation that impacts on building owners (e.g. minimum energy efficiency regulations) and how to meet them or to claim exemption
• Offering advice to achieve building regulatory compliance
• Various calculations to establish a buildings energy performance such as
> Water use calculations
> Over heating calculations