Hutch Underwriting Launches Tailored Professional Indemnity Insurance for Tradies

Targeting licensed trades such as electricians, carpenters, and painters, the policies are tailored for professionals involved in individual or low-rise residential and commercial projects valued below $10 million. This development addresses a significant gap in the market, where tradespeople often face challenges in obtaining adequate PI coverage that encompasses the diverse aspects of their work.

Ross Chambers, Head of Financial Lines at Hutch Underwriting, noted that brokers have been finding it increasingly difficult to place PI for construction-related risks when there is any design or advisory component. The new policies aim to simplify this process by offering clear appetite, streamlined questions, and digital access.

For tradespeople, this means easier access to essential insurance coverage that protects against potential liabilities arising from their professional services. The inclusion of cyber cover as standard is particularly relevant in today's digital age, where tradespeople may handle sensitive client information and are thus exposed to cyber risks.

In summary, Hutch Underwriting's enhanced PI insurance policies provide a tailored and comprehensive solution for Australian tradespeople, ensuring they have the necessary protection to operate confidently and securely in their respective fields.