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All UK registered architects are required to hold professional indemnity insurance. The ARB state that architects must have a minimum £250,000 limit of indemnity. The market for Architects Professional indemnity continues to experience a 'soft cycle' where increased competition is ensuring that premiums remain low.
Policy wordings for Architects can often vary in coverage which is why it is very important to ensure your broker fully understands your specific requirements. Often Architects wordings may exclude claims arising from asbestos and/or pollution. When looking to arrange cover, it is essential to check the policy coverage and not just opt for the cheapest quote.
We work with well-established PI insurers and can arrange policies which can provide you with flexible limits of indemnity, broad policy coverage and wordings which meet the requirements of RIBA and the ARB. In the event that your practice ceases trading and subject to qualification we can also provide your practice with a six year run-off policy