Surveyors Professional Indemnity
Professional Indemnity Insurance is compulsory for members of the Royal Institute of Chartered Surveyors (RICS) and prudent protection for any member of this profession.
A minimum Limit of Indemnity is stipulated by the RICS calculated according to fee income:
Fees of £100,000 and below p.a. - £250,000 minimum*
Fees between £101,000 & £200,000 - £500,000 minimum*
Fees of £201,000 and above - £1,000,000 minimum*
The permitted policy excess is not to exceed:
2.5% of the sum insured or £10,000, whichever is the greater, where the Limit of Indemnity is £500,000 or less*
2.5% of the sum insured, where the Limit of Indemnity exceeds £500,000*
Policy cover is written in accordance with the requirements of the RICS on a “Civil Liability” basis with an “Any One Claim” Limit of Indemnity and includes:
RICS Variance of Wording
Housing Regeneration & Construction Act adjudication awards and costs Dishonesty of Employees Loss of Documents
Surveyors & Valuers Arbitration Scheme endorsement
RICS Asbestos endorsement
*These minimum Limits of Indemnity and policy excesses are subject to review by the RICS
We have negotiated exceptional rates with various Underwriters that have provided savings of over 20% in premium.
To obtain your Quotation report and to enable us to review your risks, please click on the link and complete the PROPOSAL sending it to us by either post, fax or e-mail.
To obtain your Quotation report and to enable us to review your risks, please click one of the links above and complete the proposal, sending it to us by either post, fax or e-mail.