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Professional Indemnity Insurance
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Having adequate insurance in place is essential for all architects. Professional indemnity insurance is expected under S8 of the Architects Code of Conduct.
As an architect you are responsible for providing professional and reliable advice to your customers. As an architect you know the liabilities of the design and advice given, a fault in the building could have major implications in terms of investment or public health & safety. If anything goes wrong it can mean that your customer could sue your practice and PI (professional indemnity) insurance is there to cover what could be a costly legal bill and any compensation that might be paid out.
PI insurance is common amongst architects due to some public sector organisations and large private contractors requiring high levels of Professional Indemnity cover as a condition of awarding the contract.
PI insurance commonly covers against risks such as:
- Unintentional breaches of copyright, confidentiality or IP rights.
- Loss/damage of documents
- Breach of professional duty
- Dishonest, fraudulent or malicious acts by former or present employees
- Libel or slander
If you are looking for Professional indemnity insurance cover give Claire, Robert or Gavin a call today on 0800 085 3761.