RIBA Business supplier spotlight series: Gallagher, the provider of the RIBA Insurance Agency

In this RIBA Spotlight, we learn more about our insurance partner, Gallagher, and how they can help our members protect their business.

Tell us a little about Gallagher

We are the only insurance broker endorsed by the Royal Institute of British Architects and are one of the largest commercial insurance brokers in the UK, working with companies of all sizes across a wide range of industry sectors.

Gallagher is proud to be the Official Title Partner of Premiership Rugby, and as a local community broker, we support the work of grassroots clubs across the UK.

How would you describe your client approach?

We manage new client relationships as a partnership, taking the time to understand a client’s unique needs, and we tailor our approach to meet them. We are very much an advice-led service, so RIBA Members will have a dedicated account handler they can turn to whenever they require our support or guidance, not just at renewal.

What are the key risks an architect can face?

Architects can be exposed to various risks associated with their sector. It could be costly damage to premises or equipment, potential claims made against them and their work, or even being held liable for an injury to an employee or member of the public. In many cases, such claims can have a serious effect on the continuing operation of the business. The cost of defending a claim, for example, can soon run into tens of thousands of pounds.

Damage to or theft of Intellectual Property is also a risk for architects, so it’s important to protect assets such as plans and drawings—whether stored in traditional paper form or digitally. Today, loss of such a vital asset can not only happen due to fire or flood of premises but also through a cyber event, whether deliberate or accidental (88% of data breaches are caused by employee mistakes).* A cyber event could compromise clients’ personal information, which could prove extremely costly to recover without the appropriate insurance.

What insurances should an architect consider?

Professional Indemnity (PI) insurance is a key product for architects, protecting your business from potential liabilities arising from professional negligence or breach of contract. Our main PI policy includes an innocent non-disclosure clause to protect you in the event of accidental non-disclosure of claims.

While this is one of the most important covers for an architect—and a requirement for both ARB and RIBA Membership—there are other key products to consider to help protect your business and its activities.

Public Liability and Employers’ Liability can be vital to protect your business against claims of personal injury or damage to property. Employers’ Liability is a legal requirement if you employ another person, even if they are part time or carrying out work experience.

Another important cover to consider is Business Interruption, which is related to Property Insurance. This is designed to protect your business income if your business cannot operate due to material damage, such as storm damage or a flood. While Property Insurance will cover you for the cost of replacing damaged equipment or carrying out property repairs, Business Interruption gives you greater protection for loss of revenue following an insurable event and can be arranged to cover a certain time period following the incident.

Aside from PI insurance, the covers mentioned above are all part of Gallagher’s Office Insurance policy. In addition, other policies popular with architects include Personal Accident & Travel, Legal Protection, Cyber Risk, and Terrorism, as well as Directors’ and Officers’ Insurance, including run-off cover to help protect directors for a set number of years after the business has ceased trading.

We can advise our clients on the adequate level of cover and help avoid gaps or areas of under-insurance. Sometimes under-insurance is not exposed until a company is faced with a claim, so it is beneficial to have the partnership of a broker to review your cover levels. The cheapest policy may not be right for your business.

What are the advantages for RIBA Members of using Gallagher as their broker?

Our longstanding relationship with RIBA has enabled us to help protect and support many of its members with their insurance and risk management requirements. We offer advice, guidance and recommendations on the products and covers that suit your business needs, we use A-rated insurers,** and we keep our quotation process simple.

For RIBA Members, we guarantee*** to beat your Office Insurance renewal premium. We also offer payment options, helping to spread your payment through Direct Debit provided by our partner Premium Credit Limited (PCL).**** You will have a dedicated account handler throughout the lifetime of your policy, giving you the consistency of customer service that may sometimes be lacking from other providers.

The key to getting the right insurance programme is to work with a broker that really understands the risks you face.

The risk landscape has changed dramatically in recent years, and we have the industry experience and expertise to help ensure RIBA Members continue to get the most from their insurance programme, in terms of both cover and value for money.

RIBA and Gallagher continue to work together on the recent challenges faced/changes in the PI market. For all up to date PI Insurance information from RIBA, visit the hub page.

To find out more about how Gallagher could help your business, please call 0800 062 2042 or email ribaia@ajg.com.

These are brief product descriptions only. Please refer to the policy documentation paying particular attention to the terms and conditions, exclusions, warranties, subjectivities, excesses and any endorsements.

*Human Error is Still the Number One Cause of most Data Breaches in 2021

* Promotion is available between 1 April 2022 and 31 March 2023 (inclusive). Applicable to (i) new business only; (ii) subject to qualifying for a quotation; and (iii) offer based on like for like the cover. Guarantee to beat your office insurance premium by at least £5, provided you have not had any claims in the last 5 years and you can provide evidence of your 2021/2022 renewal schedule prior to inception. View full terms and conditions here.

**We work with a third-party company called [Premium Credit Limited (‘PCL’)], which manages instalment payments. We act as a credit broker and we are not a lender. If you have opted to pay by monthly direct debit, we will pass your details to PCL and they will make a credit decision about you, which may include a credit check being carried out. Please let us know immediately if you do not consent to us sharing your details with PCL. If PCL agrees to provide you with the credit you will receive a welcome pack including a credit agreement from PCL, which you will need to sign and return to PCL. Failure to return the credit agreement within 14 days of their letter will result in an administration charge of £10.00. Please note that PCL has its own set of terms, conditions and charges and you should familiarise yourself with these carefully. We may receive a commission for introducing you to PCL.

RIBA Financial Services Limited is an introducer appointed representative of Arthur J. Gallagher Insurance Brokers Limited which is authorised and regulated by the Financial Conduct Authority. Registered Office: Spectrum Building 7th Floor, 55 Blysthwood Street, Glasgow, G2 7AT. Registered in Scotland. Company Number: SC108909.