Professional indemnity insurance—surveyors and valuation professionals (RICS)

Copyright © 2025 LexisNexis
Produced in partnership with Rob Crossingham of Clyde & Co LLP
Practice notes

Professional indemnity insurance—surveyors and valuation professionals (RICS)

Copyright © 2025 LexisNexis

Produced in partnership with Rob Crossingham of Clyde & Co LLP

Practice notes
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This Practice Note sets out the professional indemnity insurance (PII) requirements for surveyors and valuation professionals, including detailed guidance on the Royal Institute of Chartered Surveyors (RICS) Minimum Terms and Conditions.

Regulatory setting

Who is the regulator?

RICS is the regulatory body for surveyors and valuers in the UK and Ireland.

Is insurance compulsory for practice/membership?

Under the RICS Rules of Conduct, all RICS-regulated firms must have ‘adequate and appropriate’ professional indemnity cover that meets the standards approved by RICS.

What is the regulator’s rationale for having MTC?

In its ‘UK professional indemnity insurance requirements’ (version 9 with effect from 1 April 2022), the RICS relies on three main reasons to justify its professional indemnity requirements. First, to ensure that if the firm faces a claim, it is protected from financial loss that it cannot meet from its own resources. Second, to protect the insured member or firm against the consequences of its liability to pay damages to third parties for breaches of professional duty that it commits through its

Rob Crossingham
Rob Crossingham

Solicitor, Clyde & Co LLP

Rob Crossingham is a Partner in the insurance, financial and professional disputes team in the London office of Clyde & Co.

Qualifying more than 20 years ago, Rob’s practice has focussed on professional liability and insurance coverage matters. The majority of his clients are insurers, and he also accepts direct instructions from commercial entities and professional services firms.

Rob’s practice tends to focus on professional liability disputes involving financial or property transactions. He often advises on pure insurance and coverage issues arising across the professional indemnity field. During his career, Rob has acted for all manner of professionals including solicitors, accountants/auditors, construction professionals, surveyors/valuers, financial professionals, and financial institutions (in particular, SIPP administrators). He has experience in matters involving the emerging and ‘miscellaneous’ professions, including yacht designers, agronomists, estate agents, auctioneers, IT/media professionals, forensic scientists and property search providers. Rob has represented professionals in disciplinary proceedings before bodies including ACCA and the ARB.

Rob sits on the professional disciplinary panel of the Royal Institute of British Architects (RIBA), and is a member of The Law Society’s Professional Indemnity Committee. He is a qualified mediator, and has extensive experience in handling disputes in litigation before the courts as well as in arbitration and adjudication (under the ‘Construction Act’). Rob has extensive experience in defending clients before the Financial Ombudsman Service (FOS).

Rob has been consistently ranked by Legal 500 for insurance/reinsurance disputes, professional liability and professional disciplinary. He is described as “dynamic, thoughtful, hard-working and client-orientated” and being “a reassuring, calm and brilliant presence on matters”.

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Jurisdiction(s):
United Kingdom

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