To fully protect our supply chain, we ensure that our contingent workforce hold appropriate insurance cover for any accidents or incidents which may arise, potentially leading to costly repairs or damages.
Within the construction industry, Professional Indemnity Insurance, Public Liability Insurance, and Personal Accident Cover serve separate purposes but are all crucial for managing risk and protecting each party within the chain.
Here’s a breakdown:
Professional Indemnity Insurance protects against claims for financial loss due to professional errors or oversights. It's essential for roles such as consultants, architects and engineers, who provide expert advice or services.•
Public Liability Insurance protects against claims for physical injury or property damage resulting from services provided. It is a mandatory requirement for all of our contingent workforce involved in physical construction activities to have this coverage.
Personal Accident Cover provides financial comfort if an individual is injured in an accident at work, particularly relevant for those in physically demanding roles. It covers medical costs, loss of earnings, and other expenses related to an accident at work.
Key Differences:
Professional Indemnity Insurance focuses on faults in advice or services, Public Liability Insurance covers physical injuries or property damage, and Personal Accident Cover protects our workforce from the financial burden of personal injuries.
Stonebridge assess the specific risks of each operative and their role to ensure that our entire supply chain is protected at all times.
Comentarios