Construction Legal Expenses Insurance provides businesses with cover for legal expenses when they launch legal action against a customer or supplier, or have a legal action brought against them. Contractual disputes with customers or suppliers can cost a significant amount of money and take a long period of time to resolve. Construction Legal Expenses Insurance can provide cover for costs associated with obtaining legal advice and other expenses associated with resolving a contractual dispute.
Being in a dispute can be stressful, especially when you’re faced with the expense of hiring a lawyer. Construction Legal Expenses Insurance helps you access legal advice and provides cover for legal costs and attendance expenses when you find yourself in an industry-specific contractual dispute with a client – or a supplier.
If a homeowner believes there is a fault with the work carried out on their home building project, they may decide to pursue legal action to reduce the amount they owe their builder. The homeowner may count on a builder not wanting the hassle or the expense of pursuing a defence of the claim.
Construction Legal Expenses Insurance tilts the power balance away from the homeowner by allowing builders access to legal support as part of their claim or their defence without bearing the full cost.
The policy mitigates against the barrier of expensive legal fees and allows a builder to pursue the homeowners for the amount they owe. The homeowner will need to pay for their lawyers if they are unsuccessful in their action. And if the homeowner is successful in their action, Construction Legal Expenses Insurance will help cover the builder for their legal costs and costs awarded against them.
Construction Legal Expenses Insurance can also assist with issues relating to Occupational Health & Safety (OH&S) and discrimination protection. The policy provides cover for costs associated with specialist representation at inquiries by statutory authorities, licensing disputes, tenancy disputes and other inquiries, thus saving builders the expense of finding and engaging specialist lawyers.
Subject to the full terms, conditions and limits of the Construction Legal Expenses Insurance policy, you’re covered for the following:
Cover for your costs and expenses of legal action including:
Your costs and attendance expenses in relation to an inquiry not covered under the more specific policy sections. Tax Disputes and Investigations – Your costs and attendance expenses of a legal action arising from:
Builder Joe Massouri Pty Ltd was excited to undertake construction of a new home for his customer Mr Davidson. But before the project could be completed, a legal claim by Mr Davidson resulted in an avalanche of expenses that eventually forced Joe out of business.Find out what happened
Construction Legal Expenses Insurance for the Building and Construction Industry is arranged by HIAIS via a wholesale market, One Underwriting Pty Ltd ABN 50 006 767 540 AFSL no. 236 653 (One Underwriting). One Underwriting is a Lloyd’s Coverholder and acts on behalf of Certain Underwriters at Lloyds through the Channel Syndicate. If you purchase this insurance through HIAIS, both One Underwriting and HIAIS will receive a commission that is a percentage of the premium. Further information can be found in HIAIS’ FSG or provided upon request.