What does Surveyors’ Professional Indemnity Insurance cover?
There are broadly two ways in which a professional mistake can lead to a financial loss: when you make an error, or when you make an omission (for this reason Professional Indemnity Insurance is sometimes called “errors and omissions” cover). If a client claimed that you were responsible for either, you could be held legally liable for any resultant losses.
Omissions are penalised just as strictly as errors. An example would be a surveyor, who in a planning and development role, failed to gain the relevant permissions from local authorities. Or a building surveyor who neglected to identify structural problems, such as serious cracks in a wall.
Even if a claim against you proves unsuccessful, it can still be very costly, time-consuming and stressful to defend the claim. Professional Indemnity insurance gives you professional legal advice -without the need to pay any fees up-front – to help you manage and defend the claim.
Do I really need Surveyors’ Professional Indemnity Insurance cover?
RICS requires that its members carry Professional Indemnity Insurance and defines a minimum approved wording agreed by insurers. We only deal with insurers whose policies for Surveyors’ Professional Indemnity Insurance meet the requirements of RICS.
Why should I deal with JM Glendinning for my Surveyors’ Professional Indemnity Insurance?
Finding quality Professional Indemnity cover for surveyors can be a challenge, as not every broker knows the profession well enough to serve your needs. We’ve been specialist brokers since 1972 and have many years’ experience in arranging Surveyors’ Professional Indemnity Insurance, as well as helping surveyors through the claims process.
We employ over 100 people and operate nationwide, making us small enough to offer a highly personal service, but big enough to have significant buying power with major insurers. As one of the UK’s Top-100 brokers, we remain independent, which means we can help you to find competitive professional indemnity cover.