Why is PI Necessary?
Risk Design and construction are highly complex processes involving all sorts of changeable factors from market forces to the extensive and ever-evolving provisions of the Building Code. Even with the best practice, mistakes can be made, and we live in a world where the expectation is that someone needs to be held accountable or responsible for project failures, unacceptable delays or cost over-runs. All architects’ commercial undertakings, professional practice responsibilities and obligations expose them, to varying degrees, to these risks. Risk is unavoidable. However, the consequences of risk can be managed- principally, through sound professional risk management, excellent internal practice systems, and with PI insurance in support. In most states, having and maintaining professional indemnity insurance is also a requirement of registration as an architect. Sources of Claims Professional architects can and do make mistakes. Too much work in hand, too little time for checking, insu
