| |
Welcome to Indemnity Risk Solutions LLP
IRS welcomes enquires from architects, architectural technicians and interior designers involved in small residential and small commercial projects, be it new build, conversions or extensions including refurbishment works.
Our policy includes cover for
Civil Liability
Sub contractors and consultants
Loss of Documents
Collateral Warranties
Dishonesty
To obtain a quotation, use the following options:
Post, fax or email a copy of a currently completed proposal form
Post, fax or email a completed IRS proposal form
Phone us with your details which will be passed onto one of our dedicated underwriters
Professional Indemnity Regulations - Limit of Indemnity
The Architects Registration Board
- £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.
These are minimum limits only, and for many architects may not be adequate. The ARB reviews these limits periodically. Architects should maintain sufficient cover to enable them to meet claims arising from professional practice and bear in mind that claims may arise from personal injury as well as loss, damage, delay and additional costs. Even those architects with limited turnover, engaged in private works (outside of their main employment) or undertaking pro bono work need to maintain at least a minimum level of cover.
Collateral Warranties
Often, architects are requested to be party to a collateral warranty and for many they are a normal occurrence during the course of their professional business. We have put together a guide for our construction professional insureds which they may wish to consult before entering into a collateral warranty. We hope this is found to be a useful tool.
click here to download.
|
|
|
|
|
