Insurance for building consultants
If you're a building industry consultant registered through the Prequalification (PQC) System, you must maintain the correct insurances with the appropriate coverage.
Check what professional indemnity and public liability insurances you need.
Professional indemnity insurance
You must maintain a professional indemnity insurance policy with:
- a minimum insured amount of $1 million per claim
- personal injury coverage
- continuity of coverage for a period that's appropriate to your commission types
- a maximum excess of $50,000. A higher excess may be acceptable if you can show your trading entity has enough net tangible assets to justify it.
The invitation documents you'll receive outline the amount of professional indemnity insurance you must hold for particular commissions—usually $1–10 million, depending on commission type, service risk rating and estimated cost of the project.
This table is a guide to the likely amount of insurance needed for various commissions.
Table 1: Professional indemnity insurance ($m) relative to project value and commission service risk rating
Project value ($m) | Minimum insured amount relative to service risk rating | |||
Rating 1 ($m) | Rating 2 ($m) | Rating 3 ($m) | Rating 4 ($m) | |
<2 | 1 | 1 | 1 | 2 |
2 to <5 | 1 | 1 | 2 | 2 |
5 to <20 | 2 | 2 | 5 | 5 |
20 to <50 | – | 5 | 10 | 10 |
50 to <100 | – | – | 10 | 10 |
100+ | – | – | Contact us* | Contact us* |
* Contact us at PQCRegistrar@epw.qld.gov.au.
Public liability insurance
As a building industry consultant on the PQC System, you must maintain a public liability insurance policy with:
- a minimum insured amount of $5 million per claim
- a maximum excess of $50,000.
As with professional indemnity insurance, a higher excess may be acceptable if you can show your trading entity has enough net tangible assets to justify it.
More information
Contact us on 1800 072 621 or PQCRegistrar@epw.qld.gov.au.
- Last reviewed: 10 Jul 2023
- Last updated: 10 Jul 2023