000			02028nam a22002177a 4500
005			20250926101052.0
008			250325t2025 xxk|||||o|||| 00| 0 eng d
041			_aeng
110			_aRoyal Institution of Chartered Surveyors
245			_aRICS professional indemnity insurance (PII) arrangements – UK and Republic of Ireland _ba consultation _h[Electronic resource]
260			_aLondon, _bRoyal Institution of Chartered Surveyors, _cFebruary 2025
300			_a11p.
490			_aRICS Consultation
520			_aRICS requires that all regulated firms hold ‘adequate and appropriate’ professional indemnity insurance (PII) as a protection for the clients they serve. In the UK and Republic of Ireland, the RICS Standards and Regulation Board (SRB) requires regulated firms to hold PII that meets the Minimum Policy Wording. As a result of several issues that RICS is aware of, RICS is proposing changes to the Minimum Policy Wording that, if approved by the SRB, would come into effect on 1 July 2025. RICS believe that these changes will maintain a high level of consumer protection and help firms to manage their liabilities effectively. Through this consultation, RICS is seeking feedback and views on the proposed changes to the existing Minimum Policy Wording for firms in the UK and Republic of Ireland and any associated changes to the listed insurer agreement (the agreement between RICS and listed insurers, who offer PII cover that is compliant with the Minimum Policy Wording to RICS-regulated firms). Consultation opened 25 Feb 2025 closes 22 April 2025.
650			_aPROFESSIONAL INDEMNITY INSURANCE
651			_aUnited Kingdom
710			_aRoyal Institution of Chartered Surveyors
856			_uhttps://consultations.rics.org/gf2.ti/f/1720514/239398757.1/PDF/-/PII%20consultation%20February%202025_Final.pdf _zView the consultation document on RICS.org
856			_uhttps://consultations.rics.org/PII/consultationHome _zView the RICS iConsult homepage on PII UK changes
942			_n0
999			_c122120 _d122120