Professional indemnity (PI) insurance is designed to protect the architect from claims made against them in the carrying out of their professional business. In broad terms this is the advice they give and the reports / plans they prepare and submit.
Many PI policies cover the financial loss suffered by a claimant only. How does this affect the architect if a building collapses and causes major injury or fatality to occupants or by-standers? Well at Cerberos Brokers we ensure that the PI policy covers bodily injury or property damage as a result of your professional duty (designs).
Architects professional indemnity insurance includes:
- Professional indemnity
- Bodily injury or property damage