Architects’ Professional Indemnity Insurance protects your business from legal liability while providing services to clients.
This type of insurance will cover:
1. Lawyer fees to defend your company from claims of professional negligence
2. Legal damages awarded due to such lawsuits (covers damages and settlements)
This type of insurance is essential if you operate in the service field. Should there be any errors made while serving your client, or damage or injury caused by your services, your clients can unquestionably file civil lawsuits against you for significant compensation.
1. An architect makes errors while drawing up building plans. These errors cause building faults, and delays in the construction project. The client sues the architect for $500,000 in damages.
- A nail salon, performing manicures, accidentally causes infections in several clients’ fingernails. The clients collectively file $100,000 in civil suits for negligence, and personal injury.