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Rates architects' PI insurance typically range .5% 3% fee income, depending usual risk factors market competition. Rates higher this depending work undertaken, claims history . Rates discounted start firms history legacy insure.

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Professional indemnity insurance, referred professional liability insurance PI insurance, covers legal costs expenses incurred defence, damages costs awarded, alleged inadequate advice, services designs client lose money.

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Professional Indemnity Insurance. $100,000. From $42/month. Commercial Property Insurance. $100,000. From $19/month, a comprehensive Architects Insurance Package deal Public Liability Insurance. $500,000. Work Injury Compensation Insurance (WICA Insurance) $10 million common law annual limit $45,000 medical expenses cover worker.

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Unlike public liability insurance (PL), covers accidental physical damage injury caused company, PI focused financial side . So, reason, .

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Professional indemnity insurance a business offers advice professional services . If a case , professional indemnity insurance cover legal costs rewards. Architects, engineers IT consultants require this type insurance.

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