Professional Indemnity Insurance for Architects

What is the first step in reviewing an insurance claim, according to the text?

An architect who starts a new business entity but does not inform their broker will still be covered under their existing policy.

What is the term for the maximum amount of coverage provided by an insurance policy?

An architect must take out insurance before commencing work, otherwise they will not be covered for their ______ projects.

Match the key terms in the sample insuring clause with their definitions:

What is the primary purpose of professional indemnity insurance for architects?

Professional indemnity insurance typically covers liability assumed by the architect under a contract, even if it exceeds their common law liability.

What type of insurance is recommended to cover costs associated with travel risks for business employees?

Professional indemnity policies are subject to limitations on coverage known as ______.

Match the type of insurance with its primary purpose:

A contractor working for a company during the contracting period is typically covered under the company's Professional Indemnity (PI) policy.

What is NOT covered under an architect's PI policy?

The ______ is the maximum amount the insurer will pay for any one claim under the policy.

What type of professional indemnity insurance cover provides protection for claims regardless of when the acts, errors, or omissions occurred?

What is the purpose of the 'retroactive date' in a PI policy?

Professional indemnity insurance covers a service provider's liability associated with business operations, such as slip and falls on the premises.

Who is typically NOT covered under an architect's Professional Indemnity (PI) policy?

Match the following terms with their corresponding definitions:

What is the primary difference between unlimited and limited retroactive cover in professional indemnity insurance?

An architect's Professional Indemnity (PI) policy typically covers the errors of professional subconsultants.

Professional indemnity insurance is a ______ insurance policy.

Which of the following scenarios would be covered under public liability insurance?

What is the significance of defining the 'professional business' in a PI policy schedule?

Match the type of insurance to the correct description:

An employee working on their own private projects ______ be covered under their employer's Professional Indemnity (PI) policy.

What is the primary concern with contractual clauses that require an architect to guarantee project outcomes or provide indemnities for all client losses?

Asbestos-related claims have typically been covered by professional indemnity insurance policies since the early 2000s.

What is the common insurance right that allows an insurer to pursue claims against a third party who caused losses for which the insurer has paid out on behalf of an architectural practice?

The ______ exclusion in professional indemnity insurance policies may limit coverage if an architect's actions hinder the insurer's right of subrogation.

Match the following exclusions with their explanations: