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ACE – An overview of activities

ACE – An overview of activities. Nora Fung 7 September 2005. ACE campaign - proportionate liability. Linked to high cost of PI insurance No recognition of proportionate liability under English Common Law Civil Liability (Contributions) Act 1978 Survey of ACE members in May 2005.

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ACE – An overview of activities

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  1. ACE – An overview of activities Nora Fung 7 September 2005

  2. ACE campaign - proportionate liability • Linked to high cost of PI insurance • No recognition of proportionate liability under English Common Law • Civil Liability (Contributions) Act 1978 • Survey of ACE members in May 2005

  3. 60% of firms have been forced to raise fee levels as a result of increases in premiums and excess levels Nearly 50% of firms have turned work down due to the level of PII cover demanded by the client Impact on the client • Less choice and higher costs for clients • Clients should undertake project insurance

  4. Joint and several liability • Issues of joint and several liability arise in nearly a quarter of all claims Analysis of 29 claims

  5. Joint and several liability • On average, final liability is apportioned equally between contractors and consultants, however consultants are subject to liability being apportioned against them more frequently than any other party • In a third of cases, consultants believe that their PII has been adversely affected by the claim against them, through increased premiums and excesses

  6. Conclusion • Lobbying of MPs after summer recess in pursuance of change to liability laws • Change of liability laws however, insufficient in itself • Comprehensive risk management system vital • Project insurance

  7. The End Thank you!

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