If you are an Architect seeking cost effective professional indemnity insurance from someone who understands your business, we can help you.

All of our quotations are individually underwritten so you can be sure that the premium reflects your architectural practice unique circumstance.

The Royal Institute of British Architects (RIBA) requires its members to have professional indemnity insurance. With the developments in the construction industry in the last 20 years, there are few architects who do not see the benefits of protecting their balance sheet through professional indemnity insurance. In addition, in 2002 the Architects Registration Board (ARB) introduced new codes of conduct, including mandatory professional indemnity insurance and minimum levels of cover.

Appropriate Professional Indemnity Insurance cover is required for every architect’s practice applying to become a Chartered Practice, in accordance with guidance note 5 of the RIBA Code of Professional Conduct. For UK-based practices the insurance cover must also comply with the Architects Registration Board’s (ARB) guidelines for PII.

The minimum levels of professional indemnity required by the ARB are:

• £250,000 where the gross fee income of the practice in the last financial year was less than £100,000.
• £500,000 where the gross fee income of the practice in the last financial year was between £100,000 and £200,000.
• £1,000,000 where the gross fee income of the practice in the last financial year exceeded £200,000.

The Collegiate policy complies with the guidelines of the RIBA and ARB.

Runoff Cover

Architects are required to arrange run-off cover when they cease to practice. This cover must be maintained for at least six years, and should be held at the highest level in the preceding three years prior to cessation of practice.

Runoff cover is, in all respects, a standard professional indemnity policy. The only difference is that as an insured is no longer practising, any claim under the policy is only going to relate to work carried out before the practice ceased trading. Accordingly with run-off cover the likelihood of a claim decreases as time goes by.

At Collegiate we provide runoff cover on an annual basis for as long as an insured requires.

For further information on the cover we provide please click on ‘Architects Fact Sheet’ opposite: