Nearly one third of firms have lost jobs because of inadequate PI insurance, CLC survey says

By Jordan Marshall2021-03-30T10:35:00

Companies unable to get cover required as findings reveal premiums went up fourfold at last renewal

Almost one in three firms have lost jobs because of inadequate professional indemnity insurance, according to a survey carried out by the Construction Leadership Council.

Firms across the industry have reported sharp increases in premiums for PI insurance as well as stricter curbs on the levels of cover – with the survey finding the restrictions meant a third of respondents were unable to carry out remedial work.

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