Jurisdiction(s):
United Kingdom

RICS PII for surveyors and valuers (UK): minimum terms, cover, claims, exclusions, aggregation, consumer run-off, ARP, cyber, dispute resolution and July 2025 updates

Published by a LexisNexis Insurance & Reinsurance expert

Practice notes

This Practice Note outlines the professional indemnity insurance (PII) obligations for surveyors and valuation specialists, and provides detailed, practical direction on the Royal Institute of Chartered Surveyors (RICS) Minimum Terms and Conditions (MTC).

Regulatory setting

Who is the regulator?

In the UK and Ireland, RICS acts as the independent regulator for surveyors and valuers across the profession.

Is insurance compulsory for practice/membership?

Under the RICS Rules of Conduct, every RICS‑regulated firm must maintain, at all times, ‘adequate and appropriate’ PII that satisfies standards expressly approved by RICS.

What is the regulator’s rationale for having MTC?

RICS cites three principal and clear grounds for its PII framework:

To ensure that, when a firm faces a claim, it is shielded from financial losses it cannot satisfy from its own funds.
To safeguard the insured member or practice against liability for damages payable to third parties arising from breaches of professional duty committed in the course of professional work.
To make sure clients are not left with uncompensated financial loss that the firm is unable to meet.

Accordingly, the mandatory PII regime is justified by the twin aims of protecting the firm and protecting the public in practice overall. Note that, unlike the...

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Rob Crossingham

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...

Web page updated on 21/05/2026

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