Professional Indemnity

This is an essential protection for professional firms and practices who provide a service or advice and thereby owe a duty of care to those who might reasonably rely upon that service or advice.

The Cover

The insurance provides protection to practices for ‘claims made’ against them during the policy period, arising from an alleged breach of duty of care in their professional work. The insurers, will provide an indemnity for damages awarded against them plus legal costs of defending the claim and costs awarded against them as well as providing guidance with a claim.

Claims Made

Professional Indemnity policies are written on a claims made basis; the insurers who meet the claim are the ones providing cover at the time of receipt of a notification that a claim is to be made against you. Accordingly, all the time that your cover remains continuous, albeit not necessarily with the same insurer, cover will be provided for any claims made against you for incidents arising during that period.

Adequate Limit of Indemnity

It is necessary to ensure that the limit meets your requirements, or that of your client.
This will need to be maintained in subsequent years because of contractual liability.

Collateral Warranties

Insurers are reluctant to comment on Collateral Warranties. However we have access to specialist advice from expert lawyers at a discounted rate for our clients.

Please feel free to contact us for a free, no obligation quote.

Retroactive Cover

Sometimes the cover is restricted to claims made in connection with work done after a certain date (called the Retroactive date).
Generally, an architect who has been continuously insured will be given full retroactive cover each year, even if he changes insurers.
However, an architect who has been in business for a while but is seeking insurance for the first time, might find insurers reluctant to give full retroactive cover or only willing to give it for an additional premium.
For more help either obtain a quote and buy online at bdib.hccint.com or contact us for further information and a proposal form

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Building Design Insurance Bureau is a trading style of R. J. Hurst and Partners Ltd.
Authorised and regulated by the Financial Conduct Authority.
Registered in England (No. 492768) 131-133 New London Road, Chelmsford, Essex CM2 0QZ