Insurance for architects- the blueprint to success

The career of an architect is an exciting one, yet it's not one without risk. From the ground up, your responsibilities are skyscraper high. Beginning with the first ... awry and the chance of a claim occurring. Public Liability insurance is an essential form of cover to protect you ... is out of action due to an insurable event. Cyber Liability There's a reason why you're in ...

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Insurance for Furniture Manufacturers

... wrong. This is where business insurance comes into play and should ... business' risk management plan. The process of arranging your insurance ... in the insurance marketplace. F rom Public L iability cover to a variety of business insurances , in ... an insured event. Management Liability* Management Liability insurance is designed to ...

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Legal Requirement for Public Liability Insurance

Public liability insurance covers your business for losses ... business' activities. Failure in obtaining public liability insurance policy can expose ... -site events that can be attended by the general public. A public liability insurance policy ... insurance broker. Key Takeaways Public liability insurance is a pre-requisite part of a business' risk management ...

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The difference between Public Liability and Professional Indemnity insurance

... most common types of business insurance, but do you really know ... protect your business. What is Public Liability insurance*? Public Liability Insurance ... Public Liability insurance * ? Public Liability Insurance is designed to provide protection for you and your business in the event ... insurance include: Health Professions, IT Contractors, Management Consultants ...

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Cyber Liability Insurance: the safety net small businesses need

... to hit, but the wider public is now starting to realise ... ... time for the reality to hit, but the wider public is now starting to realise that hackers aren't ... Liability insurance are: · Business interruption costs · Data recovery and investigation costs · PR & crisis management ...

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7 Types of Insurance Your Small Business Should Consider

... is Small Business Insurance. But what kind of insurance do you actually ... ... of duty in the course of your work. Your Public Liability policy does not provide protection if there is financial loss ... damage events. Management Liability Insurance Management Liability Insurance protects the ...

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Business Insurance Guide for the Self-Employed - Part 1

... have a focus on risk management strategies and protection for your ... are a variety of business insurance [] ... focus on risk management strategies and protect ... Public Liability insurance. What is Public Liability Insurance? Public Liability insurance  provides protection* for  you and your business in the event ...

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What are some types of insurance available for small businesses?

... consideration is getting your business insurance sorted. There are many kinds ... it comes to getting your insurance sorted because no two businesses ... liabilities and your revenue.   Public Liability insurance* A fundamental type of insurance ... insured event by paying ongoing expenses (such as wages or rent). Management Liability insurance* ...

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7 Surprising ways business insurance can help your company

... of sorting out your business insurance may feel like an overwhelming ... ... Public Liability insurance*. It provides peace of mind and is designed to provide protection for you and your business in the event a customer, supplier or a member of the public ... , Management Liability insurance covers ...

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Insurance for Civil Engineers- what you need to know

... about what kinds of business insurance coverage you may need to ... ... of risks. Public Liability insurance Civil Engineers should also consider Public Liability insurance. Public Liability insurance is designed to provide protection* for you and your business in the event a client ...

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Understanding Insurance for Real Estate Agents

... consider the appropriate kinds of insurance you may require to keep ... ... and deceptive conduct  Poor property management  Some statutory breaches   Public Liability Insurance * Interacting with clients and the public there's an added exposure for ...

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Understanding Insurance for Retailers

... , and that's where business insurance can help save the day ... ... insurances retailers may need to consider . Public Liability insurance is designed to provide protection for you and your business in the event ... customer management systems. This is where Cyber Liability insurance ...

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5 Questions to ask yourself before buying Insurance for your Small Business

Know you need business insurance but aren't sure how ... while and looking to buy insurance for the first time; there ... ... Public Liability insurance ... event Cyber Liability insurance protects businesses against the costs associated with data breaches, being hacked or the theft of client information Management Liability insurance ...

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5 Tips for an Insurance Health Check

If your insurance is due for renewal or ... a health check of your insurance to ensure that if the ... is hit by a major event, you not only ... event like fire, theft, storm and accidental damage. for financial loss consequent upon a material damage claim (Business Interruption) Management Liability ... of your Public Liability insurance. Similarly, ...

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Additional Cover for Professional Indemnity Insurance

... Fernando for his certificates of insurance - it's just part ... IT consulting business providing information management services to corporate clients ... her professional indemnity insurance. Lynn purchased public and products liability (PPI) when ... certificates of insurance. However, having this cover means she would be protected in the unlikely event of a customer ...

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5 Surprising Things Business Insurance Can Cover

When looking for Business Insurance, most small business owners typically ... things such as their legal liabilities and top of mind assets ... ... clients you're an exceptionally prime target. Cyber Liability insurance is a 'must have' policy for all ... provides access to cyber security experts, crisis management and PR experts. The tax man comes knocking ...

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5 Common Beauty Insurance Claims

... like to hope otherwise, unexpected events happen! Things can go dreadfully ... ... under my contract with my landlord to hold a Public Liability policy. I've always enforced strict health and safety ... you minimise your risk: Develop a risk management plan to prepare for a possible natural disaster ...

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The Easter Bunny's Guide to Business Insurance

Each year at Easter millions of kilograms of chocolate are purchased and consumed around the world. In Australia alone close to $200 million is spent on Easter chocolate ... are stored in stop working? Within a Business Insurance pack the Easter Bunny would have cover for ... credit facility is classified as a “Crisis Event” in a Management Liability Policy. This type of policy can also ...

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Small Business Insurance: Why you might want to ensure you're covered!

Running a business can be rewarding, challenging but also stressful. While you will are taking control of your earning potential and the upside can be great, there are ... insurance to work for them. For example handymen are often required to have at least $5 million public liability ... assets are also on the line. Having a Management Liability policy in place can cover you not only for ...

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Public Liability Insurance for Cabinet Makers

... as part of your risk management plan and can be done ... the right kind of business insurances in place. Regardless [] ... ... of your risk management plan and can be done easily with the right kind of business insurances in place. ... protection in place for when disaster strikes, Public Liability insurance may also be a requirement if you are ...

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What Tradies Need to Know About Public Liability Insurance

... the most common types of insurances for tradies, but do you ... the ins and outs of Public Liability insurance and what you need to ... bits. So ... and broke the plaster. The pl a sterer ‘ s insurer settled the claim paying just under $1 , 000 for the damage. Getting cover Sorting out your Public Liability insurance shouldn ‘ t be a ...

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5 Tips for getting the best Public Liability insurance for your business

... business and your customers with Public Liability insurance. It offers protection should a ... , or even member of the public, sue your business for ... as it sounds, accidents happen. If you don't have Public Liability insurance you face the risk of being out of pocket for hefty ... to hold a minimum of $5 million PL insurance in order to secure a plumbing license. There ...

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5 Things to Consider When Buying Public Liability Insurance

Public Liability insurance. It's one of those ... for your business? Not all Public Liability policies are the same and ... ... T erritory ha s its own set of laws when it comes to legal requirements for holding Public Liability insurance. For some trade professions, it may be mandatory to have a policy in place before you can ...

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Public Liability Insurance Scenario

Just imagine: A phone call out of the blue. The caller has a voice you don't recognise. He's telling you he is hurt - badly - and you're responsible. You hang up. He ... might have been avoided altogether in just a few minutes online. What Janine needed was public liability insurance or insurance that protects you and your business from being found liable to a third party for loss ...

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Do I need insurance for my market stall?

From fresh food and irresistible treats to clothing, arts, crafts, and bric-a-brac, Australia has become spoiled for choice when it comes to markets. And with the festive ... . Insurance for market stall holders is designed to protect you and your business against the financial risk in the event that something goes wrong, It usually consists of two types of cover - Public Liability and ...

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BizCover SME Insurance Price Index Q1 FY20

... material price reductions on their Public Liability insurance, while prices have remained steady ... ... all products, driven by both a 5% (Retail) and 13% decrease (Professionals) in the price of their Public Liability insurance for the most recent quarter. This contradicts the steady industry increases we have seen for ...

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Understanding Insurance for Mortgage Brokers

... the appropriate types of business insurance. [] ... for a claim to be made. Public Liability insurance is  designed to provide protection for you and your business in the event a customer, supplier or a member of the public  brings a claim against you due ...

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Dishing up the facts on food business insurance

... you have the right business insurance. When it comes to insuring ... ... food industry. There can be many unpredictable events, like the dreaded nightmare of your customers ... you more than a few boxes of groceries! Public Liability insurance is designed to protect your business against such ...

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Understanding Insurance for Interior Designers

... where having the right business insurance in place is vital. Let ... and outs of how business insurance can protect your interior design ... ... safety of your customers, suppliers the community and their property. Public Liability Insurance is designed to provide protection for you and your business in the event a customer, supplier or a member of the ...

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Understanding Insurance for Graphic Designers

... , that's when your business insurance comes into play. We've ... ... Liability insurance can protect you anywhere within Australia. It provides coverage for you and your business in the event a customer, supplier or a member of the public are injured or sustain property damage ...

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Keep calm and stretch on with Yoga Teacher insurance

... of arranging your yoga teacher insurance go. As a yogi or ... business. Let us centre your insurance chakra by exploring some of ... ... that's been left on your studio floor, Public Liability insurance can cover the related costs to defend such claims ... location such as your yoga studio against unforeseen events for example, fire, storm or theft. ...

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A guide to Plasterer's insurance that won't leave you, board

... by not having the right insurance in place? Read on to ... ... to the victim and still be able to survive financially? Many contracts will require you to have your own Public Liability insurance before you even step foot on site. Make you sure you arrange your cover with the right ...

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Small Business Insurance Index

... price increases in the business insurance market, SMEs are continuing to ... the cost of business insurance, the BizCover SME Insurance Price ... both sectors saw no changes to the cost of their Public Liability insurance. SME Professionals have been seeing increases in their Public Liability insurance over the last few years, however this year the increases ...

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BizCover SME Insurance Price Index Q1 FY21

... clients buck the trend of insurance price hikes. Whilst the Australian ... the availability and pricing of insurance for SMEs, BizCover can report ... there were some clear winners and some losers. The Full Report can be viewed here: SME Insurance Price Index Public Liability insurance is an essential cover for SME's and one that most can't afford to operate without ...

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Understanding Insurance for Physiotherapists

Your clients rely on your expert advice and services as a physiotherapist. You help ease their aches and pains from minor sprains to long-term rehabilitation programs ... Another common coverage for physiotherapists is Public Liability insurance. Public Liability insurance is  designed to provide protection for you and your business in the event a customer, supplier or a member ...

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5 insurances every convenience store owner needs to know about

You're a retail lifesaver, helping customers at all hours with all sorts of essentials, from early morning coffees to midnight snacks. As a convenience store, you've ... being very costly without the right protection. Public Liability insurance can provide you with peace of mind ... due to an interruption caused by an insured event? Business Interruption provides cover for loss of turnover ...

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Insurance for Cabinet Makers- What You Need to Know

When it comes to building and creating quality pieces of craftsmanship, cabinet makers know a thing or two. This highly skilled trade involves having an eye for detail ... . As with many trades in Australia, it may also be a legal requirement to have Public Liability insurance in place before you undertake a contract or step on site. Protecting your most valuable asset ...

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Insurance Considerations for Personal Trainers

Working as a personal trainer can be a rewarding career. Not only do you get to help your clients achieve their goals and transform their lifestyles, but it's also the ... even damages property) as a result of you providing your training services. Find Out More About Public Liability Insurance As a personal trainer you'll also be giving advice to your clients, ranging from the type ...

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Professional Indemnity Insurance for Consultants

A large number of people that start businesses, in Australia have been experiencing a steady growth in business for the past few years. One area that is growing in magnitude ... covered in the event that someone files suit against you. Professional Indemnity Insurance works by ... insurance or public liability insurance for your own protection. When you buy a Professional Indemnity insurance ...

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5 Reasons To Review Your Business Insurance This Christmas

Christmas can be a busy (as well as stressful!) time for many small businesses. Come December the big Christmas countdown is on as people are busy preparing for the ... Now's the time to make sure you have Public Liability insurance , and if you do have it, ensuring you ... having enough cover for stock and contents in the unhappy event of a break-in, but also think about your machinery ...

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Business Insurance Guide for the Self-Employed - Part 4

... piece of our Business Insurance for the self-employed ... Accident and Illness insurance and Cyber Liability insurance. We share the ... is ... about his lost income. Cyber Liability What is Cyber Liability insurance? Cyber Liability insurance* is designed to help protect you from claims and support your profitability in the event of a cyber breach or ...

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The Risky Business of Insurance

... a business can survive unforseen events, should also be top of ... ... have” insurance: Public Liability – protects against legal and court costs in the event that someone is injured, or has their property damaged while you are providing a service to them. Every business should have PL ...

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What are the Insurance Options for Land Surveyors?

... yourself and your company with insurance is a smart investment. Land ... ... type of land surveying projects your business uses. Public Liability Public Liability insurance is designed to provide protection for you and your business in the event a customer, supplier or a member of the ...

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Insurance Premiums for Retailers Continue to Climb

Insurance Premiums for Retailers Continue to ... The latest BizCover Small Business Insurance Price Index has been released ... an increase in small ... Insurance Price Index (Financial Year 2017 2nd Quarter) There was no change in the Professional Indemnity sector, but the index for Public Liability ... . Graph 2 – BizCover PL/BizPack Retail Index (Financial Year ...

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Who is Covered Under an IT Liability Policy?

Information Technology Insurance Professionals in the information technology sector face potential liabilities from ... ... between consultants and clients requiring these insurances in addition to professional indemnity. The benefit of having professional indemnity, products liability and public liability contained in the same policy is ...

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Protect your business with Statutory Liability Cover

... are many different types of insurance policies available to small businesses ... against countless number of unexpected events, such as injury caused ... insurance policies available to small businesses to protect against countless number of unexpected events, ... or can afford to make. This is where Statutory Liability insurance comes into play – designed to help cover the ...

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Things you didn't know about small business insurance

Getting the insurance sorted for your small business ... , compare quotes and buy the insurance that suits your business. But ... not know about small ... lower premium. To put this in perspective, a public liability policy for an SME working from home generally costs ... business is on the move and changing and so your insurance needs will also be changing and you'll want to ...

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STABLE INSURANCE RATES A REASSURANCE FOR SMEs

BizCover's SME Insurance Price Index has unveiled a ... the COVID-19 pandemic with insurance rates remaining flat for a ... acquired from BizCover's ... ,” he said. “Key sections of business pack insurance that are frequently used by retailers such Contents, ... being offset by increases in the cost of Public Liability and Professional Indemnity in other industries,” he ...

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Small Business Insurance Price Index Q3

Insurers hold on to SME Insurance Premium Price Increases! Despite a ... BizCover Small Business Insurance Price Index has shown insurance rates ... the non professional sector, primarily around Public Liability and Business Packs (predominately covering perils ... abundance of capacity and fierce competition in the insurance market, insurers have managed to hold onto ...

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Small Business Insurance Index Q2: 5 point increase, largest in 10 quarters

The Quarterly BizCover Small Business Insurance Index has shown that Australian ... enjoyed the end of declining insurance premiums with an increase ... the first increase seen in 10 quarters. This brings the insurance rates back to the same level as Q4 2013/14 ... rates in the non professional sector with Public Liability and Business Packs (predominately covering perils ...

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BizInsure Capitalizes on the Paradigm Shift in Commercial Insurance!

... .com), a leading-edge online insurance model that connects independent professionals ... businesses to critical Professional Liability (E&O) insurance ... to a new way of thinking, a new way of underwriting, and a new way of pricing professional liability insurance for independent professionals and small businesses. Our online model (made mainstream by the personal auto ...

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A Mumpreneurs Guide to Understanding Business Insurance

The art of juggling parenthood while running your own business is anything but an easy feat. Theres always something screaming for your attention, from managing client ... insurance. Public and Product Liability insurance* One of the main types of business insurances to consider is Public Liability and Product Liability insurance ... or garage. If an insured event like a fire or storm were ...

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Beauty to go! What Mobile make-up artists need to know about insurance

There are some obvious pros to working as a mobile freelance make-up artist - you have control over the hours you work, you get to work with a wide range of clientele ... it's important to protect your business against unexpected events that could not only damage your business, but ... for a claim to be made. Fear not, Public Liability insurance can help clean up the mess by covering your ...

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6 Areas You May Not Have Thought Business Insurance Covers

Your business is your livelihood. So it's vital to protect your business assets and revenue against potential risks that may impact your business, such as fire, storms ... running your business as a result of interruption caused by events covered under a policy. And the good news is ... other essential covers such as Public Liability and Professional Indemnity insurance to ensure you are not ...

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Business Interruption Insurance: Your 'Get Out of Jail Free' Card

Unforeseen events have the potential to cripple ... 'lock up' operations. Business interruption insurance can provide both peace of ... ... loss or damage from an insured event. Business interruption insurance policies are specific, however, and ... the fine print in your policy is 'best practice' management, and a big part of being a responsible business ...

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Business Insurance Guide for the Self-Employed - Part 3

... in the world of business insurance, it can feel like you ... guide on all things Business Insurance for the self-employed. In ... back to basics ... contents, stock, tools and commercial premises when an insured event occurs (such as fire, storm, theft or even accidental damage). A Business Insurance package can also cover your portable equipment, glass, tax ...

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Top Tricks To Help Improve Your Business' Risk Management

... you can improve the risk management of your business. 1. Staff ... ... guide on the top ways you can improve the risk management of your business. 1. Staff turnover You invest a lot ... eye. Set some time aside and review your insurance policies to help prevent any issues if a claim ...

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Professional Indemnity Insurance for Civil Engineers

... a professional, considering Professional Indemnity insurance to protect* you and your ... ... design and construction of structures typically used by the general public. What is Professional Indemnity insurance? Professional Indemnity (PI) insurance* is an important form of protection for businesses that ...

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What Limit of Professional Indemnity Insurance Do I Need?

... 'What limit of Professional Indemnity insurance do I need?' While this ... ... is a minimum limit of Professional Indemnity Insurance you are required to maintain to comply with ... accurate picture as to the full financial exposures in the event of a total loss. The potential scope of your advice ...

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Professional Indemnity Insurance 101: For Allied Health Professionals

... yourself is with professional indemnity insurance. This type of policy provides ... ... ways to protect yourself is with professional indemnity insurance . This type of policy provides cover for ... their professional duties. It means in the event policyholders are sued for professional negligence, they ...

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Misconceptions Around Professional Indemnity Insurance

... that the claims professional indemnity insurance covers are only the experiences ... ... do not win, a certain portion of the public usually believes the accusers claims. This can be ... the level of risk involved. Businesses or consultants whose insurance coverage is not sufficient may need to draw funds from ...

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Business Insurance Guide for the Self-Employed - Part 2

Navigating the world of business insurance can be confusing which is ... created a guide to business insurance for the self-employed that ... and outs ... a bit easier . We've created a guide to business insurance for the self-employed that profil es the main types ... Intentional damage   Contractual liabilities   Your p rofessional ...

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How Does Professional Indemnity Insurance Benefit You?

... advisable that you have professional insurance, which can also be referred ... to as professional indemnity insurance. Professionals are expected ... , which can be filed against them by their clients. It is advisable that you have general business insurance in order to protect you from financial losses caused by property damage or bodily injury. In addition to ...

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A Guide to PI Insurance

... to make Professional Indemnity Insurance simple (also known as ... errors and omissions insurance, PI or Professional Indemnity ... is Professional ... know if they are getting the best deal. This is where BizCover steps in to satisfy your Professional Indemnity Insurance needs. BizCover allows you to get live online quotes in under 2 minutes , and purchase in only ...

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iSelect partners with BizCover to launch business insurance comparison

... expanded their general insurance offering to include business insurance, through a partnership ... , Australia's leading small business insurance ... with one of BizCover's trained consultants. Mark Pangrazio, iSelect's Head of Commercial for Health & General Insurance, said the company was thrilled to be partnering with BizCover to assist it in focusing on the SME ...

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BizCover SME Insurance Price Index Q2 FY20

More larger businesses with simple insurance needs are using BizCover for ... their insurance, while smaller businesses benefit from ... this quarter ... Retail & Hospitality. Whilst all three groups have experienced no increases in the overall price of their insurance, there have been changes within product groups and industries. The Full Report can be viewed here: SME ...

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BizCover Disrupts Insurance by Commoditising it

... the BRW article. Self-proclaimed insurance industry disrupter BizCover is trying ... by letting newcomers to the insurance sector, such as Coles ... approximately $20 million in annualised revenue. It has the permission of four of the nation's major insurance houses to sell their products. BizCover targets the small to medium enterprise segment and claims to have ...

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How the cost of Professional Indemnity insurance is calculated

... of a Professional Indemnity (PI) insurance policy is calculated and why ... the cost of Professional Indemnity insurance. Insurance policy pricing ... excessive increase in the premium. For example, looking at the data of almost 5,000 BizCover customers with PI insurance during the 2016/17 financial year, the average monthly cost for a policy with $2 million of cover ...

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Steady as she goes - still no increases in Insurance Premiums!

... The BizCover Small Business Insurance Price Index is indicating ... market for small business insurance continues to benefit from ... stability in ... in the index over the last 9 quarters. The Retail Sector is one of the few industries where insurances prices have increased. A trend driven by continued competition, as well as capacity in the market. This ...

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Sometimes Professional Indemnity Insurance is Needed

Professional indemnity insurance is handcrafted to provide coverage ... ... any potential policy holder needs to consider when deciding upon whether or not they should buy professional indemnity insurance is the potential financial loss that can occur as a result of legal fees whether or not ...

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Small Business Continues to Win on Insurance Prices!

... ; however the BizCover Small Business Insurance Price Index for the first ... ... all indicate that the industry is long overdue for a price increase; however the BizCover Small Business Insurance Price Index for the first quarter of the financial year indicates that insurers have not been able to ...

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Reviews related to Public Liability Insurance Event Management

  • I compliment your company on such an easy and effortless way to acquire insurance with good information when comparing Insurer options.

    Tim M Mesic
    Architecture & Surveying

  • easy process.

    Dany K
    Architect and Architectural Consulting Service (Except Construction Project Management)

  • Great communication and prompt quote.

    Justin D
    Architect and Architectural Consulting Service (Except Construction Project Management)

  • Thanks~!

    Mark B
    Architect and Architectural Consulting Service (Except Construction Project Management)

  • Very helpful - thank you.

    Allan P
    Architect and Architectural Consulting Service (Except Construction Project Management)

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Why do Architects need it?

Don’t let a potential mistake that falls through the cracks become a permanent problem. Instead, let BizCover ease your worries with insurance for architects. With just a few clicks or a single phone call you can get covered instantly, so the only thing that needs to stand the test of time is your grand design. 

As Frank Loyd Wright once said “You can use an eraser on the drafting table or a sledge hammer on the construction site”…. or you can use BizCover! 

Did you Know?

The architecture professionin Australia is regulated by each of the States and Territories, with each having separate Acts, Regulations and Registration Boards. 

For information regarding the requirements for each jurisdiction check on the Architects Accreditation Council of Australia website. 

Insurance for Architects

Professional Indemnity* 

As an architect or draftsperson, you understand the challenges of designing and delivering complex projects. Your work has the potential to cause serious issues if things do not go according to plan.  A simple error or omission could lead to a costly  Professional Indemnity claim. 

Thankfully, Professional Indemnity insurance is designed to provide your business with a solid plan. It helps protect businesses and individuals that provide specialist services or professional advice from losses caused by actual or alleged negligence in the advice or service provided. For Professional Indemnity claims indemnified under your policy, it will cover the compensation payable to a third party together with defence costs (which can include legal fees, investigation costs and expert fees).   

Did you know that PI insurance is known as ‘claims made’ cover, which means you need PI insurance to be in place when the claim is made against you.  So, even if you have shut up shop, retired or decided you’d rather be sipping cocktails on a tropical beach, you should consider run-off insurance  which continues to provide important Professional Indemnity insurance for your business for any claims arising from work you do before finishing up but which are notified to you after the doors have closed.  

Public Liability Insurance* 

Do you need Public Liability insurance? The short answer is probably yes. Chances are you’ll have regular contact with clients, contractors and the general public. Public Liability insurance is designed to provide protection for you and your business in the event a customer, supplier or a member of the public is injured or sustains property damage as a result of your negligent business activities. 

Business Insurance* 

Your clients bring in your income, but where would you be without your business assets? Without insurance cover, you could be hit with a few unwanted challenges that could leave you reaching deep into your pockets. 

Business Insurance is an insurance package designed to provide cover for your business contents, stock, tools and commercial premises when an insured event occurs (such as fire, storm, theft or even accidental damage). A Business Insurance package can also cover your portable equipment, glass and for loss of revenue due to business interruption in specified circumstances.  In addition, cover is available for public liability, tax audit, employment practices and statutory liability risks. 

Management Liability* 

If you’re a company director or senior manager, we’re sure you don’t want any unwanted surprises that may leave you personally liable. Management liability insurance protects directors and officers and the insured company itself from the many exposures relating to the management of a company. Owners and those responsible for the management of a company have specific responsibilities which can result in personal liability for alleged or actual wrongdoing. 

*As with any insurance, cover will be subject to the terms, conditions and exclusions contained in the policy wording.  The information contained on this web page is general only and should not be relied upon as advice.

Could this happen to your business?

An architect prepared a town planning application for a self-storage facility using computer-assisted design. While preparing the drawings there was an error inputting data into the system which would (and did) result in the development being built three metres shorter than planned. The property was then subsequently sold to a development company. 

During construction of the self-storage facility, it was discovered that only 198 self-storage units would be constructed and not the 235 as contained in the original design.  The property developer claimed from the architect over $500,000 in damages due to loss of income that would be incurred by having fewer storage units and for the decrease in value of the business.  Luckily, the architect’s professional indemnity insurer was there to pick up the bill!