Product
Professional Indemnity
Occupation
Project Manager
Industry Segment
Architecture and Engineering Services
Claim Description
The Insured was a project manager for the constructions of a group of retirement homes and adjoining clubhouse. The claimant alleged that the Insured caused them to pay a construction invoice for subcontractor fees under the mistaken belief that the entire sum was payable and also that the amount paid exceeded the total amount payable.
Outcome
The matter went to mediation and the Insurer paid a settlement sum of $750,000 and an additional $100,000 in legal fees.
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