Written by Michael Foote, Insurance Expert
When you need to change your cover during a policy period, understanding the amendment process ensures you stay protected without gaps or unexpected costs. Whether you’ve taken on a new project or adjusted your fee income, the steps below will guide you through updating your policy mid-term.
Identify What Needs Changing
First, pinpoint exactly what’s changed in your practice:
- A significant new contract or client engagement
- Expansion into a different service area (for example, adding survey work)
- A material increase in annual fee income
Document the date each change took effect and gather any supporting information, such as revised engagement letters or fee schedules, before you contact your insurer or broker.
Notify Your Broker
You should inform your broker as soon as a change arises. To do this:
- Provide a clear description of the amendment (for example, “added basement design work” or “annual income increased from £200 000 to £350 000”).
- Supply any supporting documents showing the new risk profile.
- Ask for written confirmation of the revised terms and any premium adjustment.
Early notification helps avoid disputes about cover gaps or late notification penalties.
Review the Impact on Limits and Premium
Mid-term endorsements often involve:
- Recalculating your limit – you may need to raise your per-claim or aggregate amount if the new work carries higher exposure
- Adjusting your excess – sometimes you can keep your limit the same by accepting a higher excess, which lowers the premium increase
- Paying a pro-rata premium – insurers usually charge only for the remainder of the policy period
Use our Structural Engineers PI Insurance page as an example of how different project types influence your limit requirements.
Confirm Updated Policy Wording
After your insurer processes the amendment, check that:
- The policy schedule reflects the exact wording of your change
- No unintended exclusions or conditions have been added
- Your retroactive date and any run-off provisions remain intact
If anything looks amiss, raise it immediately with your broker to get corrected documentation.
Maintain a Clear Audit Trail
Keep a file, digital or paper, with:
- Your original policy documents
- All correspondence relating to the amendment
- The updated policy schedule
A robust audit trail will prove invaluable if you ever need to defend a claim linked to your mid-term change. For more on managing your policy, see our post on How to Choose the Right Level of Cover for Your Business.
