Multidisciplinary engineering firms can be more complex to underwrite because the business may provide several different professional services under the same policy.
Insurers may ask for a breakdown of activities such as:
- civil engineering
- structural engineering
- mechanical engineering
- electrical engineering
- environmental engineering
- project management
- specialist consulting
The insurer will usually consider which disciplines make up the largest proportion of the business and whether any activities require additional underwriting.
They may also consider whether services are performed internally or subcontracted, the qualifications of key staff and the types of projects each discipline works on.
An accurate activity breakdown helps avoid the business being assessed solely on a broad description such as “multidisciplinary engineering consultancy”.
