What is the purpose of professional liability insurance for architects?

The purpose of professional liability insurance for architects primarily centers around protecting against claims of negligence or malpractice. This type of coverage is designed to safeguard architects and their firms from financial losses that may arise when a client alleges that a professional error or omission occurred in the performance of their architectural services. This could include issues such as design flaws, failure to meet contract specifications, or breaches of duty that adversely affect the project.

By having this insurance in place, architects can mitigate the risks associated with the professional obligations they undertake on behalf of their clients. It provides peace of mind, ensuring that legal defense costs and any settlement payments arising from such claims can be covered, thereby allowing architects to focus on their work without the looming fear of potential financial ruin from lawsuits connected to their professional activities.