RIBA considers setting up mutual insurance company Source:  Shutterstock 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. Advertisement 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.