As a part of its work to assist practices in operating their companies, the Royal Institute of British Architects (RIBA) has at present, Thursday 8 February 2024, printed its Information to Skilled Indemnity Insurance coverage (PII) 2024, completely out there to RIBA members. Discover a free abstract of the information hooked up.

From providing monetary safety, to authorized compliance, to constructing shopper confidence, PII has a vital function in serving to to guard towards claims made by third events because of negligent skilled providers. 

This easy-to-follow information – the primary of its sort to cowl such depth – equips architects to navigate the maze of insurance coverage jargon, complexities and myths, giving them confidence when making use of for or renewing their PII, and serving to their companies survive an unintended and sudden occasion.  

It explains terminology and descriptions the worth and ideas of insurance coverage, the way it works in follow, learn how to purchase good high quality insurance coverage, and the significance of being risk-aware – as consciousness of what can occur can forestall it from taking place. It additionally units out what to do when a disaster does happen.  

Written by skilled professionals, this information is supported by the continued work of the RIBA Council Skilled Advisory Group on PII, comprised of insurance coverage business consultants and RIBA members. 

RIBA President Muyiwa Oki mentioned:  

“Our occupation has been crying out for assist with Skilled Indemnity Insurance coverage, and I’m happy to say that we’ve heeded that decision. The significance of applicable PII cowl can’t be understated – sitting alongside a dedication to excellence, ethics, innovation, collaboration and steady enchancment, it’s a crucial element of constructing and sustaining a powerful skilled status.” 

RIBA Chair of Board Jack Pringle mentioned: 

“As practices proceed to grapple with financial uncertainty, this information to navigating the complexities of Skilled Indemnity Insurance coverage couldn’t be extra well timed. It’s important for architects to be well-versed in insurance coverage so as to defend their follow and thereby their purchasers by applicable cowl. Familiarising your self earlier than the worst occurs is one of the simplest ways to be enterprise resilient. This information is the fruits of years of labor by the business’s prime consultants and gives sensible assist in clear, no-nonsense language. I look ahead to seeing it used far and extensive.”  

Discover a free abstract of the RIBA Information to Skilled Indemnity Insurance coverage hooked up.

Obtain the total RIBA Information to Skilled Indemnity Insurance coverage, unique to RIBA members.

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