Presentation to the University of Chester Advanced Diploma in Professional Practice in Architecture

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1 Presentation to the University of Chester Advanced Diploma in Professional Practice in Architecture Professional Indemnity + Insurance Roger Hawkins - Hawkins\Brown Chairman of RIBA Insurance Agency Funding Partner of Hawkins\Brown

2 Insurance

3

4 What is insurance for? How does it work? First Party Insurance covers policy holder for own loss Third Party Insurance allows the policy holder to compensate a third party

5 First and Third Party can be illustrated by a comprehensive motor policy First party cover includes destruction of your car by fire, theft or by reversing into an obstruction Third party cover compensates other people for damage to their property and person where you are the responsible driver

6 Public Liability Insurance General liability owed to third parties, e.g. a client visiting your office Employers Liability Insurance Legal requirement for most firms Liability owed by Employer to its Employees

7 Professional Indemnity Insurance Why is it needed? What does it cover? How are claims made?

8 Why is PII needed? Regulatory Requirements vary by profession Architects Registration Board Minimum limit of 250,000 Compulsory since 1 April 1988

9

10 Why is PII needed cont. Landscape Institute - Simply require that PII is in place RICS members minimum 250,000 Engineers no specific requirement Solicitors minimum 2m or 3m depending on how they trade

11 Why is PII needed cont. Contractual obligations Most contracts specify insurance limit which can be out of proportion to the contract value Business necessity Protect the business and its assets

12 Basis of PI Insurance Relates to professional services Provision of any professional service creates a duty of care A breach of that duty of care leads to a claim PI compensates the claimant and protects the professional

13 Basis of PI Insurance Claims made policy, claim is dealt with by the policy in force when the claim is first made Limit of indemnity, aggregate and any one claim Specific lower or amended cover for some risks Policy excess Annual policy of insurance Terms, conditions and exclusions

14 Claims and Circumstances Policy terms govern - Who to notify - What to notify - When to notify Claims and formal demands Circumstances likely to give rise to a claim Innocent non-disclosure clause

15 Claims Design Errors Costs over-run Time over-run Water Features, fountains, ponds Sports Facilities, pitches, golf courses Playgrounds Wind farms

16 Claims Refer all matters to insurers Do not admit liability Do not act without agreement Most notifications do not develop further Keep records, without evidence it can be very difficult to defend a claim, it is one persons word against another

17 Claim Resolution Usually a negotiated process Adjudication Arbitration Courts of Law

18 Working Overseas Most policies will cover work outside North America Some countries require local insurance with many differing reasons Fronting policies Single project insurance

19 Private Work All work, even for friends and family carries liability PII must be purchased ARB require it to be maintained for at least 6 years after last project is completed

20 Building Information Modelling Insurance implications will not be resolved until case law develops Collaborative work risks claims from unexpected sources Risk management is vital

21 Insurance and Risk Management Keys Read it know what is and is not covered and read your contracts Report it make sure you notify possible claims Restrict it limit your liability and risk

22

23 Risk Management

24 Risk Management What is it? How does it work?

25 The Purpose of Risk Management Avoid claims occurring Defend claims Protect reputation Prevent business disruption Ensure great customer care Enhance profit

26 Risk Management Basic Process Identify Evaluate Mitigate Result Decline, Accept or Transfer

27 Identification Not all signs are this clear!

28 Identification Know your client What tasks are you undertaking Is reward fair for the risk Do you have expertise and resources Are contractual obligations acceptable

29 I ve never had a claim - never will... Risk blindness

30 A risk Management Culture Introduce systems and procedures to manage risk Open door policy no blame culture Clear complaint procedures Have a manual: - paper-based - web-based - keep it up-to-date - keep it simple Regular audits Involve and educate staff

31 Evaluation What is the probability: - High / medium / low What is the impact - High / medium / low

32 Evaluation Probability / Impact High Medium Low High X? ü Medium?? ü Low ü ü ü High probability / High impact is probably best avoided or highly scrutinised

33 Procedures - for everyone NOT just the foot soldiers

34 Mitigation Risk reduction Risk transfer, insurance is one of the mechanisms Decline the risk as unacceptable To avoid hidden surprises ensure risk is identified, evaluated and managed

35 Mitigation Contract terms can be significant Liability Caps Net Contribution Clause

36 Mitigation - Liability Caps Only apply to Contractual Liability Do not apply to personal injury / death Are subject to Unfair Contract Terms Act Must be seen as reasonable Very useful for negotiated settlement of claims

37 Risk Transfer - PI Insurance Not the only transfer mechanism but possibly the most important The financial consequences of your design error are transferred to the insurer Insurer compensates the 3rd party affected

38 PI Insurance Manage your risk Consider policy wordings For example check the notification provisions Are there times limits set? If so, do you have processes in place?

39 Risk Management - an example Your practice has been asked to design a swimming pool for a longstanding private client. You have previously designed his house, this is to be a covered extension.

40

41 Stage 1 - Identification This is repeat business using standard RIBA contract Client pays on time and at a fair rate Full RIBA service like previous work for him You have never worked on a swimming pool The one high risk is lack of experience

42 Stage 2 - Evaluation What is the probability? There is a greater chance of an error in design of a building type you have no experience of. What is the impact? A problem could lose the client Bad publicity Claims against PI

43 Stage 3 - Mitigation This is a high risk project, swimming pools are a high risk even for experienced specialists Cap liability in contract Use specialist assistance Review insurance limits Result do you accept the project?

44 Claims Risk management focuses on prevention rather than cure Claims can: - Damage customer relations - Damage reputation - Cause disruption to your business - Affect profit

45 The True Cost of a PI Claim

46 Common Causes of Claims

47 Defending Claims Ensure that everyone: Records on file all methodology Makes full notes of all meetings Keeps written records of telephone conversations Post It notes! A good, well maintained file will be crucial to win the day File retention DO NOT ADMIT LIABILITY

48 Poor Defence

49 After the Event What went wrong? Why did it go wrong? What can be done to avoid repetition? - Lessons learnt - Quality of people - Quality of work

50 Reputation Years to gain Days to lose Be careful!!

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