RIBA considers setting up mutual insurance company : vimarsa

RIBA considers setting up mutual insurance company


RIBA considers setting up mutual insurance company
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The RIBA is considering setting up a mutual insurance fund to provide cheaper professional indemnity insurance (PII) to practices, the AJ can reveal
The idea has been proposed by ex-RIBA president Marco Goldschmied who argues insurance companies are ripping off architecture firms for PII cover – and that practices should club together and mutually insure one another.
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Goldschmied has said a mutual insurance company should be backed by the RIBA, due to the need for hefty capital reserves to get started. He also called on the RIBA to recruit a team of in-house lawyers, who could advise members free of charge when claims are made against them.

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