WOBO Governor David Gibson was pleased to receive notice from the RICS and the provision of a new Professional Indemnity Insurance, without a cladding exclusion, for members and fellow professionals operating as Australian Building Certifiers. This addresses the PII issues relating to aluminium composite panels – “combustible cladding”.
After lengthy due diligence, Professional Indemnity Insurance (PII) without a ‘cladding exclusion’ became available last week through Lloyd’s of London for Australian building certifiers. Limits of $1m and $2m are now available.
Building certifiers perform a critical statutory function in issuing building code compliance certificates. Any major impact on services of building certifiers affects the building and construction sector which comprises around 10% of the Australian economy.