Architects are not free from professional risks?
Architects not only design buildings but create infrastructure that defines a lot about the personality of the people who are going to use that infrastructure. Evidently, these experts work at razor’s edge to comply with the expectations of their clients. However, alike other professionals, they cannot eliminate the risk from their lives. In due course of contract, sometimes they might come across allegations, error and omission that may create financial catastrophe for architects. What they do to cover those unseen losses?
Professional liability insurance acts as an easy way to protect interests of architects who work hard to meet the demands. The insurance policy is designed to cover the financial penalties of an architect during offering services to clients. Apart from paying the compensation amount, insurance policies pay off all legal costs.
If you are working as an architect, taking adequate indemnity insurance is essential for you.