PI Insurance


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Membership Benefits

Members of NZACS gain access to PI Insurance at bulk discount rates and assistance in
times of need by experienced architects.

Cautionary Tale

Completion Certificates.  

The usual purposes of completion certificates are to verify practical completion in terms of the contract, and/or sufficient for occupation, and/or as required for finance purposes. 

If defects are later discovered, there is a potential for a claim on the basis that you approved unacceptable work. 

Do not be pressured into issuing a certificate you may later have cause to regret. 

Do not assume that “conditions” you attach to a certificate will later be interpreted as you intend.

PI cover is provided on a "claims made and notified” basis, i.e. the policy must be in force when the claim is notified, notwithstanding that the events giving rise to the claim may have occurred some time previously.

Notifying a potential claim:

Members should notify a claim as soon as it becomes apparent that an actual or potential claim against them is likely.

Features of the basic PI cover arranged through NZACS:

  • available only to members of NZACS
  • arranged on a co-operative basis to leverage bulk purchase cost savings
  • policy terms are negotiated by and for architects
  • claims are processed under the guidance of architects
  • automatic reinstatement after a claim in the policy year
  • availability of run-off cover following business cessation
  • excess and cover levels set by the insured firm
  • premiums are set at the time of application for cover

Policy extensions available subject to adjustment in premium:

  • runoff cover in the event of cessation of business, death or retirement
  • dishonesty of partners or employees
  • defamation
  • loss of documents (including computer records)
  • quasi-judicial representation costs (arbitration, mediation etc.)
  • statutory liability (for fines and penalties set by statute)
  • employers liability (for employee claims outside ACC legislation)
  • employment practices liability (arising out of employment contracts)
  • public liability (for property damage or bodily injury to others)

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