Call for OFT investigation over high premiums
Series: Estates Gazette ; (0330) 26 July 2003, 15(1)Publication details: 2003Subject(s): Summary: 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.| Item type | Current library | Call number | Copy number | Status | Barcode | |
|---|---|---|---|---|---|---|
| News article | London News article | WB3929-12 (Browse shelf(Opens below)) | 1 | Available | 123138-1001 |
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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.