As an association that encapsulates architectures, engineers, and quantity surveyors, ARC held an engagement seminar with local insurance companies, Botswana Insurance Company (BIC) and Minet Botswana, to keep their options open on how best to safeguard their interests in the event of unforeseen circumstances like the recent floods. Held under the theme 'Appropriate Insurance for the Architectural Services Industry', ARC registrar Mmilili Kenneth stressed the need for robust solutions from their end to be better prepared for such tragedies in future.
"Things are changing. We have to rethink the materials we use to build and this is all because of climate change. Just recently in February, Botswana experienced floods where properties and infrastructure were destroyed. "We heard that millions (of pula) were lost during the floods and some were never recovered because they never had insurance. So it is important to have insurance in these circumstances," emphasised Kenneth. Kenneth further stated that the seminar will take ARC a long way as it might be what they need to address other issues that engineers and architects continue to experience in their line of work. "We have observed ongoing gaps, deficiencies of contemporary issues from the insurance, trends, and increasing complexity of associated scope by both parties involved. We are here to actualise our dream and have a conversation on PI and insurance-related environment. In pursuit of this aspiration the insurance sector was identified as a pivotal stand therefore why their presence here," he said.
Through this development, Kenneth stated that they will in future be prepared for these kinds of scenarios. Explaining how the PI model works and how best ARC can use it to its best advantage, BIC underwriting manager Winnie Molefhe revealed that the model is what just ARC needs or simply an antidote to their challenges. "As an insurer, I am here to give you peace of mind. Because without the PI cover, you have to dig deeper into your pockets but with it, you don't have to worry about anything," she said. Molefhe indicated that with the PI model, one covers almost everything depending on the cover one takes out. "A PI cover will cover your professional liabilities. Should there be an error or negligence on your part that is where PI comes in. It covers legal defence, financial losses, compensation claims, breach of professional duty, defamation, loss of data, and unintentional IP infringement. We will cover you," she said.
