Your clients look to you for trusted advice and a professional service. A professional indemnity (PI) policy allows you to carry out your work with confidence. Architect insurance offers professional indemnity coverage specifically tailored for architects. Our specialist PI insurance team is here to help you get the protection you need to cover the specific risks you face.
Our PI insurance team is here to make sure you have the right cover in place. Call us or complete an online form and we’ll call you.
Your PI insurance policy responds when a client suggests you are responsible for causing them financial loss due to an error or omission in your work. Regardless of whether you are responsible or not - you have a claim to defend. Your PI insurance covers legal costs and expenses involved in defending the claim as well as any compensation payable, including legal defence costs.
Reasons your client might claim financial loss include:
As an architect, PI insurance is a mandatory requirement. Having PI insurance in place will play a key role in securing new clients and reassuring your existing ones.
Public liability insurance is also crucial for architects, providing protection against third-party physical damage, injury claims, and property damage. It is distinct from professional indemnity insurance and having both types of cover ensures thorough protection.
Additionally, business equipment coverage is essential, protecting items like laptops and mobile phones against accidental damage and theft, both on business premises and elsewhere.
The PI insurance market can be difficult to navigate, and cover levels between policies often vary greatly. It’s important to work with an experienced PI insurance broker to ensure you get the protection you need. We have a specialist PI insurance team, who take the time to understand your business, offer advice and ensure that you have suitable cover in place, including a thorough understanding of your professional indemnity policy. We work with a wide range of insurers in the professional indemnity market to provide you with appropriate cover on competitive terms. In the unfortunate event of a claim, you’ll be guided through the claims process by a dedicated claims team.
Our PI insurance team is here to make sure you have the right cover in place. Call us or complete an online form and we’ll call you.
If you’re found responsible for causing financial loss to your client due to an error or omission in the services you have provided, professional indemnity (PI) cover protects against legal costs and expenses involved in defending a claim, as well as compensation payable.
The Architects Registration Board (ARB) requires its members to have a minimum level of PI insurance, specifically £250,000, and emphasises the importance of maintaining adequate and appropriate coverage as per the ARB rules.
This depends entirely on your policy, so you’ll need to ensure it provides adequate cover for the advice and professional service you provide and the risks you may face. For example, this could include:
Not all PI insurance policies are the same, so it’s advisable you work with an experienced PI insurance broker to ensure you have the cover you need.
PI insurance is considered mandatory by a number of regulatory bodies. In addition to architects, examples of those professions requiring mandatory PI cover include accountants, solicitors, surveyors, insurance brokers and independent financial advisers (IFAs). For other professionals, having PI insurance in place may be part of a contractual obligation. You may, as an architect, be required to carry a higher limit of indemnity for contractual reasons.
Often, PI insurance is chosen because of the security and protection it provides if advice or service doesn’t meet the expectations of a client. Having PI insurance in place is fundamental to your practice as an architect.
The cost of PI insurance can differ, and it depends on a number of varying factors including the limit of indemnity required; the number of employees undertaking the work of the business; their qualifications and experience, as well as the turnover of the business. Another factor worth mentioning is the impact that a claim might have on your ability to source the correct level of cover at a viable cost to your business. We always advise working with a broker who specialises in arranging PI. Every business is different, and there isn't a one-size-fits-all PI insurance policy.
The limit which you chose to purchase very much depends on the nature of your practice and whether you are contractually obliged to carry more than the minimum limit expected by ARB. For instance, a member of the Royal Institute of British Architects will need to review any minimum standards as maybe expected by that organisation.
Most firms or practices will take into account the value of the projects in which they are involved; their clients’ requirements and the nature of the projects. Have you, for instance, been involved in a cladding project? Have you had issues securing cover for fire safety claims?
We always recommend that you work with a broker specialising in PI.
PI insurance is widely available through general insurance brokers and online insurance providers as well as specialist PI brokers. It's important to carefully select a provider that can meet your business needs. Some key considerations to keep in mind when choosing a provider include:
Yes, most business insurance including professional indemnity insurance is considered an essential cost and is tax deductible.
