Any architect will tell you that the demands of his craft are quite unique. Many professions require skills in numbers and analysis, such as accountants and finance professionals. Other professions require an adept talent in art, such as musicians, dancers, photographers, and other artists. What skill-set does being an architect entail, then? Does it require the ability to work well with numbers? Does it only involve the ability to build and construct art from practically nothing? It’s not surprising that architecture is a profession that demands both of these skills. An architect’s job is therefore very demanding, and because of this pressure, mistakes are not always easily avoided. The risk of errors and omissions affecting the outcome of the entire project is magnified when we speak of architectural design. And to combat these risks, specialized architects’ professional liability insurance policies are there to keep these professionals protected.
Most architectural firms do not have large amounts of funds at their disposal. Since it is a service that they are offering, when there is no demand for their service, they can expect very little income. In contrast to businesses selling goods, many people purchase the services of architects at an average of only once or twice in their entire lives. When architectural firms are sued for errors or omissions that result in the client’s financial losses, many firms may not be able to survive this financial vacuum. This can ultimately force them to shut down operations – or even worse, give up company or personal property to settle penalties. To avoid this dreadful situation, they must be covered by professional liability insurance.
Whether or not the firm is actually guilty of the charges pressed against them, it is always important to have insurers answer for the legal service fees and other subsequent expenses that a case may bring. The question here is not about proving the clients wrong, but rather about making sure that the firm survives the financial pressure that the clients have unfortunately brought to it. It’s a really good thing professional liability insurance packages exist. They give seemingly defenseless firms a fighting chance.