In 2003 the then president of the Auckland Branch approached Harvey Kerr to arrange a scheme for members of the Architectural Designers New Zealand (Inc) for Professional Indemnity and other Liability Insurance of ADNZ. Auckland Insurance was able to arrange better cover & conditions at similar premiums and a scheme for Architectural Designers was set up. The scheme has opened to Architectural Designers and over the years we have successfully lobbied the Underwriters on behalf of members of the Architectural Designers Insurance Scheme to get progressively better wordings and more competitive pricing.
Professional Indemnity Insurance
As an Architectural Designer you offer professional advice, so you need Professional Indemnity (PI) insurance to protect you against allegations of professional negligence. If a customer claims to have suffered financial loss due to your mistake, your PI policy will step in to help determine the best course of action.
With a view to protecting your hard earned reputation, the Insurer will either settle the matter out of court or defend you through the legal process, paying witness, investigation and defence costs as well as any damages that might ultimately be awarded against you.
In addition to the standard cover a PI policy provides, Auckland Insurance has been able to arrange special terms for leaky building cover, and recladding projects.
General (Public) Liability
As a business owner, you have a legal responsibility to third parties such as your customers, suppliers and the public at large. Should you, your company, or your employees, injure a third party or damage any property belonging to them, you can be sued.
General Liability Insurance will cover compensation that needs to be paid to third parties and also costs involved in investigating, negotiating or defending claims made against you.
In any one working day your company could inadvertently breach any number of Acts of Parliament: health & safety; resource management; privacy; environmental protection; fair trading… the list goes on. Liability is strict and both fines and legal defence costs are on the increase.
As a business owner, Statutory Liability Insurance will cover you for unintentional breaches of all but a few select Acts. It will pay for your legal defence costs and, where legally allowable, any fines imposed upon you.
Commercial enterprises owe a common law duty of care, not only to external ‘third parties’ but also internally to their own employees. If one of your employees is injured at work, they can sue you for anything excluded by ACC. This includes mental injury without physical injury, nervous shock or fright, diseases brought on by long-term exposure and exemplary damages.
Sometimes overlooked, Employers Liability should play an important part in your liability protection.