Everything you always wanted to know about professional indemnity!
Posted by APM on 15th Feb 2012
Lee posed the question: 'Do you ever find yourself in a situation where the client moves the objectives and you think this is never going to work now!' Project managers are expected to make the impossible happen. Sometimes they can, and sometimes they cant, which can lead to a project failing and then the client trying to sue.
Delegates heard real life examples of projects that have failed, where the project manager in the middle suddenly ended up with a multi-million pound claim not really knowing what to do next. As the saying goes, 'throw enough mud and some will stick'.
Lee explained that it is not only your own reputation at stake, you may be taking the blame for responsibilities you didnt even have. Leediscussed what the project manager could have done to prevent this and how their insurershelped by giving good legal advice, paying defence costs and having a public relations team on standby in case the press got hold of the story.
The event was held under the Chatham House Rule allowing delegates to ask any question.
- Risk management - what to do and what NOT to do.
- Insurance jargon explained.
- Selection, supervision and use of sub-contractors.
- Contractual liability: Good practice.
- The jargon explained.
- Settlement levels.