{"node":{"id":"9bdb0f7f-e7b1-4d49-88a5-092a01d9b7ea","handle":"9bdb","type":"note","authorName":"PI Insurance","intent":"learning","title":"Contracts that ask for PI: what a clause asks for, how to meet it, and the clauses to take to a broker","aiSummary":null,"content":"A contract that asks for PI usually wants three things: a limit, how long you keep cover, and a certificate proving it. One standard policy usually meets all three.\n\nThis is general information from the PI Insurance site, not advice about your contract. A broker checks your clause. It is not legal advice on the contract.\n\n## Read the clause for five things\n\n- **The limit.** For example \"not less than $2,000,000\".\n- **Per claim or aggregate.** \"Each and every claim\" and \"in the aggregate\" mean different things. Some government panels ask for more in the aggregate than per claim.\n- **How long.** Many clauses ask you to keep cover for some years after the contract ends. That is run-off.\n- **Proof.** A certificate of currency before you start, and sometimes each year. It is one page, from the insurer or broker, showing the policy is in force, its limit and its dates.\n- **Who is insured.** Some clauses ask for the client to be noted on your policy. PI policies rarely allow that. A broker can explain your cover to the client in writing instead.\n\n## Clauses to take to a broker before you sign\n\nThese are common and often fixable, sometimes with a short email to the client.\n\n- A run-off period that is unusually long.\n- A limit above $10m.\n- **Fitness for purpose**: a promise that the work will achieve a result. The law expects reasonable care, not a guarantee, so PI often does not cover this.\n- **An indemnity beyond the law**: words like \"indemnify\", \"hold harmless\" or \"release\", covering losses you did not cause or with no cap. PI may not cover the part beyond your legal liability.\n- **Liquidated damages**: a fixed sum you owe, often a daily rate for finishing late. Often not covered by PI.\n- **Consequential loss** accepted without a limit: lost profits, lost revenue, delay costs.\n- **Proportionate liability** removed: you could end up liable for other people's share of the blame.\n- **Novated design**: your design contract moves from the owner to the builder. Tell your broker before it happens, and have the deed checked.\n\n## Keep a record\n\n- List every contract that has a run-off clause.\n- Keep each certificate of currency.\n- Ask subcontractors for their own certificate.\n\n## An idea, not an offer: clause review\n\nThe PI Insurance team has discussed a clause review. The preview site has a \"Send us your clause\" link. A reviewed service, signed off by the broker, is not offered.\n\nIf it is built:\n\n- You would send the insurance clause from your contract.\n- AI would draft a first read: the cover types, limits, run-off, indemnities and liability caps the clause asks for.\n- The draft would also list what it looked for and did not find, so nothing looks finished when it isn't.\n- Alex would check the draft and reply.\n- One version would start in your own AI: a prompt would pull out only the insurance terms, with names, rates and parties removed. Only those requirements would be kept, never the contract text.\n- It would stay about insurance, not legal advice on the contract.\n- Saying \"this policy meets your contract\" is likely personal advice, so the licensee would need to approve the service first.","capturedAt":"2026-11-09T12:51:38.828Z","createdAt":"2026-11-09T12:51:38.828Z","updatedAt":"2026-11-10T01:09:28.348Z","spanId":null,"contributor":null,"audiences":[{"kind":"public","createdAt":"2026-11-10T00:48:45.537Z"}],"fingerprint":"5bf4ac4a0e1e6b8522d8165f2d85da97a71d6d69abf494fc463670b310fe8a80","revisionNo":"3","structureHash":"cd32849df6d9dfdadc0c72649d0c56f94aae52394423eb935c4ebea4b422a254","page":"https://lattris.com/by/2/memories/9bdb0f7f-e7b1-4d49-88a5-092a01d9b7ea"},"links":[{"direction":"out","verb":"references","reason":"Follow when the person has the clause in front of them: the site's page on the five things to read and the clauses to show a broker.","hash":"37557e41262ce535906bc27f60e98af1ea2db145e751b789e26980112a53b274","node":{"id":"04fb54d5-fee3-4bc2-ac50-09e41f38bcdb","handle":"04fb","type":"note","title":"My contract says I need PI (piinsurance.com.au/contract-requirements/)","aiSummary":null,"erased":false,"href":"https://lattris.com/api/lattris/by/2/memories/04fb54d5-fee3-4bc2-ac50-09e41f38bcdb?links=1","fingerprint":"32ea73f9fd7f1637c6c3b1752cd64ae0f897e5c5c5c187dbfdb9efc6ccae641e","revisionNo":"2","structureHash":"cb7843d8fbc7b354709c942fd0f4538f678b9ee16b5c404eee903f810144c5af","intent":"learning","authorName":"PI Insurance","page":"https://lattris.com/by/2/memories/04fb54d5-fee3-4bc2-ac50-09e41f38bcdb"}},{"direction":"out","verb":"references","reason":"Follow when a clause uses a term this block does not explain, such as run-off, aggregate or retroactive date.","hash":"20a292b0a209ecaccee0a8bcb997b62abb5dcf5d96a8afe119f52ce7e59cb3e2","node":{"id":"557ebc0b-c680-4ffd-804d-63a7d9a679be","handle":"557e","type":"note","title":"How PI insurance works: claims-made, the retroactive date, run-off, limits, defence costs and what it does not cover","aiSummary":null,"erased":false,"href":"https://lattris.com/api/lattris/by/2/memories/557ebc0b-c680-4ffd-804d-63a7d9a679be?links=1","fingerprint":"57f165bff7a77e96f2594365571a253d8eeefd7c556724500d0049f4d70b2423","revisionNo":"2","structureHash":"a47edb25a3afdaca88aab37e8c8d7dae429dc88431dff9a54ee448a151ab6a3e","intent":"learning","authorName":"PI Insurance","page":"https://lattris.com/by/2/memories/557ebc0b-c680-4ffd-804d-63a7d9a679be"}},{"direction":"out","verb":"references","reason":"Follow when the clause asks for cover for some years after the contract ends: run-off, and how to keep it unbroken.","hash":"3756c0781e7e1499d874ee6acd2ddb40611938e2127de0fd2235482f27aa8cd5","node":{"id":"6b71d78b-5b98-40cb-a0fc-25dcc1ae2510","handle":"6b71","type":"note","title":"Do I need PI after I stop working, retire or close the business? 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