On September 19, 2019, China Construction Project Cost Management Association (hereinafter referred to as CPIC) and China Pacific Property Insurance Co., Ltd. signed a strategic cooperation agreement in Beijing to jointly promote the professional liability insurance of project cost consulting enterprises. Wang Wei, deputy director of the standard and quota Department of the Ministry of housing and urban rural development, Wang Zhonghe, deputy director general of CFA, Gu Yue, chairman of China Pacific Property Insurance Co., Ltd. and other relevant leaders and principals attended the signing ceremony. The signing ceremony was presided over by Zhang Xingwang, Deputy Secretary General of China Price Association.

Wang Wei, deputy director general, fully affirmed the implementation of the professional liability insurance of engineering cost consulting enterprises, pointed out that the professional liability insurance of engineering cost consulting enterprises is an important measure for the reform of engineering cost management and an important system guarantee for the marketization of engineering cost; under the background of vigorously promoting the construction of the credit system of engineering cost market, the implementation of the professional liability insurance of engineering cost consulting enterprises was carried out It is of great significance to enterprises, industries, projects and markets. It is in line with the direction of cost management reform and development. China Price Association, local cost management association and insurance companies should strengthen publicity and linkage, further improve the professional liability insurance system of engineering cost consulting enterprises through pilot projects, and constantly strengthen legal, administrative and economic means to promote engineering Innovation and development of cost consulting enterprises.

Wang Zhonghe, vice president of the board of directors, proposed that the professional liability insurance of construction cost consulting enterprises can improve the solvency of construction cost consulting enterprises, protect the legitimate rights and interests of the entrusting party, promote the transformation and upgrading of construction cost risk management mode, deepen the reform of management system of construction cost consulting enterprises, improve the competitiveness of construction cost consulting enterprises, disperse and transfer industry risks, and make for China The price consulting enterprises carry out the "one belt and one road" initiative and escort the "going out". CPIC and Pacific Property Insurance Co., Ltd. jointly developed the professional liability insurance for engineering cost consulting enterprises, which has been reported to China Banking and Insurance Regulatory Commission in August 2019. In the next step, each pilot area should unify ideas, improve awareness, adapt to local conditions, guide by classification, and constantly promote new progress and breakthroughs in the pilot of professional insurance, so as to promote the sustainable development of cost consulting industry Exhibition.

At present, apart from the professional liability insurance of engineering cost consulting enterprises developed by China Pacific Property Insurance Co., Ltd., no other insurance companies have developed similar products suitable for cost consulting enterprises. In the future, China Price Association will work together with Pacific Property Insurance Co., Ltd. to promote the insurance concept in the field of engineering construction and cost consulting. In accordance with the needs of project cost consultation, management and development, CFA will provide technical guidance for the R & D of relevant products of Pacific Property Insurance Co., Ltd. and provide technical support for the insurance business related to project construction and project cost consultation. CFA and relevant local associations will accept the entrustment of Pacific Property Insurance Co., Ltd. to carry out cost consultation enterprises The technical work of identifying the liability for insurance accidents, the amount of loss, the scope of compensation, etc. of professional liability shall protect the legitimate rights and interests of the insured enterprise and the entrusting party of consulting business.

All relevant engineering cost consulting enterprises can apply for insurance from China Pacific Property Insurance Company Beijing branch through the service hotline (Tel: 010-68333318, email: baoxian@ccea.pro).

——- China Construction Project Cost Management Association