ARCHITEAM INSURANCE & MEMBERSHIP RENEWALS
By now all members should have received an email to renew your membership and professional indemnity and public liability insurances, as part of your participation in the ArchiTeam Cooperative Ltd. Group Insurance Policies. The current policy is due to expire 4pm, Sunday 31 May 2020.
This year the quotes we received for our $5m group professional indemnity insurance policy renewal had increased by 12% from last year. The ArchiTeam Board understands that this is currently an anxious time for you and your practice, and it’s our aim to do as much as we can to contribute to your ongoing financial wellbeing through this difficult period. Consequently, the Board has agreed to absorb the 12% price increase and freeze the price of your insurance at the same level as last year.
The ArchiTeam membership fee has increased slightly to $308 incl. GST, though to offset this the Board has also agreed to make all live CPD events free to members for the next six months.
We’d like to remind you about the cover;
- Professional Indemnity $5 million any one claim with $25 million in aggregate for all participating members
- Public Liability $20 million unlimited in the aggregate
- Products Liability $20 million in the aggregate
- Legal defence costs provided in addition to the limit of indemnity
- Unlimited Retroactive cover (covers past architectural services undertaken prior to this policy)
- Run-off cover available for retiring members
- Policy excess is costs exclusive and only required to be paid if insured judged liable or chooses to settle for damages.
Further information is on our Membership & Insurance page. Please contact the ArchiTeam office on admin@architeam.net.au if your would like a copy of the policies and exclusions.
Below is the direct link to the online form
https://abcountrywide.com/architects-insurance-application-form/
ArchiTeam is a not-for-profit cooperative currently representing over 770 small Australian architecture practices.
Our mission is to empower and support small practice architects to thrive.
In addition to our great value insurance policies, our members enjoy access to our free awards program and online member forum, discounts on CPD events, CPD Online, and affordable business documents, and access to our networking and peer support programs.