Call for OFT investigation over high premiums
Call for OFT investigation over high premiums
- 2003
- Estates Gazette (0330) 26 July 2003, 15(1) .
There are calls for an Office of Fair Trading investigation over evidence of a fourfold increase in agents' professional indemnity insurance. A partner at Harvey Spack Field said that the premiums for their £6m cover had gone up to £120 000 from £30 000. Chairman of the RICS Commercial Property faculty Graham Chase argued that he had not seen evidence of fixing but of a lack of capacity. RICS would take this further if there was evidence on collusion and fixing of premiums.
PROFESSIONAL INDEMNITY INSURANCE
OFFICE OF FAIR TRADING
HARVEY SPACK FIELD
COMMERCIAL FACULTY
There are calls for an Office of Fair Trading investigation over evidence of a fourfold increase in agents' professional indemnity insurance. A partner at Harvey Spack Field said that the premiums for their £6m cover had gone up to £120 000 from £30 000. Chairman of the RICS Commercial Property faculty Graham Chase argued that he had not seen evidence of fixing but of a lack of capacity. RICS would take this further if there was evidence on collusion and fixing of premiums.
PROFESSIONAL INDEMNITY INSURANCE
OFFICE OF FAIR TRADING
HARVEY SPACK FIELD
COMMERCIAL FACULTY