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CIC gives advice for architects on PI insurance amid rise in premiums

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Published on: 30 March 2021

Published by LNB News

LNB News 30/03/2021

Document Information

Issue Date: 30 March 2021

Published Date: 30 March 2021

Jurisdiction(s): England, Northern Ireland, Scotland and Wales

Article summary

The Construction Industry Council (CIC) has commented on the findings in insurance broker PolicyBee’s annual Claims Report that architects made 38% of all professional indemnity (PI) claims in 2020, despite making up just 6% of all policies. The CIC says that this is a reminder of how important it is for those in the construction and architecture sector to secure insurance cover. Concerns over cladding on buildings since the Grenfell tragedy have led insurers to consider construction a high-risk sector, with premiums and excesses having risen by 400% in some cases, making it difficult for architects to find adequate indemnity cover.

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