Professional indemnity insurance for architects
An Architects professional indemnity policy will normally provide cover for Negligence (as is required by the ARB) and breach of warranty of authority. The policy will also normally include cover for the dishonest actions of principles and employees. There will normally be an extension of cover for the loss of documents and libel and slander.
A major issue for many architects is the provision of Collateral warranties. In most cases an Architects Professional indemnity policy will include cover for these, however, you should always check with your insurers before signing any of these to ensure that you are not going to be acting outside of your policy cover. Onerous collateral warranties will be excluded from cover.
Typically, Architects Professional indemnity policies will exclude Death or bodily injury, Loss or damage to physical property, Punitive or exemplary damages, Nuclear risks, Claims and circumstances known at the inception of the cover and acting as a contractor.