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Estate Agents
Pii Brokers offer professional indemnity insurance which complies with the requirements of the estate agents ombudsman. Details can be found on https://www.tpos.co.uk/join-the-scheme/application-requirements.
Surveyors
Pii Brokers offer professional indemnity insurance that complies with the regulations of the RICS from approved insurers.
RICS
The minimum limits of indemnity for annual fee levels are:
- Up to £100,000, £250,000
- Over £100,000 up to £200,000, £500,000
- Over £200,000, £1,000,000
In addition the rules impose maximum excesses which will depend on the limit of indemnity.
Maximum excesses:
- Where the limit of indemnity is less than £500,000 the maximum excess should be no greater than 2.5% of the limit of indemnity or £10,000 whichever is the greater.
- For indemnity limits over £500,000 then the maximum excess is 2.5%.
We also offer cover that complies with the The Association of Residential Letting Agents (ARLA).
ARLA
The minimum limits of indemnity for annual fee levels are:
- £150,000 where fee income is less than £150,000.
- Where the income level exceeds £150,000 the minimum limit of indemnity purchased must be £500,000.
These are minimum limits only, and we are of course able to arrange higher limits of indemnity if required.
The professional indemnity market for surveyors is extremely competitive, however we have access to all the major insurers to the profession and you will be able to benefit from our policy of reduced commissions.
To obtain a quotation please complete and return one of the proposal forms in your preferred format, available above. Alternatively if you currently have a policy simply forward a copy of your renewal submission.
Please call us if you would like to discuss your professional indemnity insurance requirements.
Our details are available on our contact page.
We look forward to hearing from you.