The Construction Leadership Council (CLC) is surveying industry professionals on their experiences relating to Professional Indemnity Insurance (PII).
In recent times firms from across the industry have reported sharp increases in premiums for PI insurance, while also seeing stricter curbs on the levels of cover. Some firms have reported four-fold increases in policy costs, while others have said that they can no longer secure cover.
This has been driven by multiple factors including a response to higher historic claims from the sector, as well as a cyclical hardening of the insurance market.
ARB is working with the CLC, professional bodies, the insurance industry and government to take steps to mitigate the difficulties in the PI markets. This includes developing a robust evidence base, identifying in detail the areas where the industry is facing the most significant difficulties.
The confidential survey can be completed at https://www.surveymonkey.co.uk/r/CLCPII
The survey will be live until 12 March 2021. Industry-level details of the results will be published by the Construction Leadership Council and will be used to inform ongoing work to support the sector.
For guidance and support in this area please view our PII guidance for architects or contact us at professionalstandards@arb.org.uk and we will be happy to help.