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In the spring of 2020 ARB commissioned a survey of architects to better understand the market conditions. The results of the survey indicated that while there was not a market failure, architects were facing increasing difficulties in securing adequate professional indemnity insurance cover at a commercially viable cost.
The statistical results of the survey are available here. It is important to note that the survey results are a snapshot of the position in a moment in time, and since May 2020 market conditions may have significantly changed.
ARB has used the survey results to support its own regulatory decision making, and as a basis for discussions with our stakeholders: architects, professional bodies, insurers and government. We continue to work with our partners for solutions to the significant impact that the hardening of the PI market has had across the built environment.