When an NZACS member firm retires or ceases trading as an architect after ten continuous years of PI insurance cover, the firm will be entitled to apply for free run-off PI insurance cover, provided they notify Aon annually of their insurance cover requirements. A policy excess will apply, and the policy benefit is discretionary, as a recognition (“thanks”) for continued membership support. Retirement means retirement (in the general sense of earning money from work activities), and cessation of trading similarly. The benefit is not available where the member firm changes trading names and/or personnel, or if (in the case of a sole trader or principal) the architect continues to be employed.