Owners Protective Professional Indemnity

What if construction project owners could protect themselves when their architect or engineer does not have sufficient professional liability insurance?

AIC offers project-dedicated professional liability insurance that protects the project owner for losses arising out of the architect or engineer’s (A/E) negligence. With OPPI, the A/E’s policies are supplemented instead of replaced, thereby improving an owner’s potential recovery.

Targeted customer profile

AIC tailors OPPI coverage for public and private owners including:

Airports
Casinos, hotels and resorts
Hospitals and healthcare systems
Road, bridges, rail, water, wastewater, sewerage and other infrastructure
Mixed-use high rises
Power/Industrial
Prisons
Real estate developers
Schools and colleges
Stadiums/arenas
Office, commercial, retail
Other owner-related construction projects

Coverage features

AIC’s OPPI product provides project owners with the coverage needed when an A/E’s own insurance is not adequate or becomes unavailable for any reason. With OPPI, the owner is the Named Insured giving them full control of their insurance program. Additional policy features include:

Coverage for single or multiple projects on an annual or multiyear basis
Covers the duration of the construction project with an automatic extended reporting period (ERP) available
Indemnifies the owner for damages or losses in excess of the A/E’s available insurance/self insured retention (SIR), whichever is greater
Difference in conditions (DIC) responds to losses to the extent that the policy is broader than the underlying A/E’s policy, subject to an SIR
Responds as primary if the A/E’s underlying insurance has not been maintained; AIC waives its right of subrogation against the A/E if the underlying insurance has been maintained
Defense of third party claims against the owner
May cover more than design professionals, including owner’s on-site representative
Gives the owner the flexibility to hire qualified firms that meet our minimum insurance requirements
Retroactive coverage available

Program options

Intermediate and large SIR’s
Customized limits and sublimits based on customer’s risk appetite
Liability limits up to $50 million

Why AIC

Leadership and influence through active participation in key construction and insurance industry associations
Professionals who specialize in the industry and understand the technical and operational aspects of construction
Offers creative solutions aimed to reduce customer’s cost of risk while enhancing their profitability
Carriers with innovative coverage policies and extensions that address industry-specific needs
Carriers with customized programs that fit the unique risk appetite and coverage needs of the customer
Represents carriers with integrated underwriting, risk engineering and claim account teams
Offers domestic and global coverage capabilities

For more information

For more information on owner’s protective professional indemnity insurance, please contact your agent at AIC Insurance Services at 616-676-4000 or toll-free at 888-695-9777

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