RICS gives Howden PI role

The Royal Institution of Chartered Surveyors (RICS) has appointed specialist Lloyd’s broker, Howden, as its preferred UK professional indemnity (PI) broker.

This is the first time that the RICS has appointed a preferred broker for this type of insurance.

Mark Southwell, risk and compliance manager at the RICS said: “We have appointed Howden as our preferred broker of PI insurance to members in the UK. We have worked with Howden for many years and know it has excellent market contacts and understanding of surveyors’ business.

"We have every confidence that the team at Howden will endeavour to provide all RICS members with access to the best possible PI cover at a competitive price as well as the support of a highly experienced claims team should the worse happen.”

Lance Rigby, executive director at Howden said: “Professional Indemnity insurance is a significant cost for many surveying firms but access to practical advice can be difficult to find. Howden aims to remedy that by working with the RICS and its members on a consultative basis throughout the year, not just at renewal, to ensure that firms get the right level of cover at a competitive price.

"We have a highly experienced surveyor’s insurance team and we will use that expertise to deliver seminars, insurance market updates and fact sheets to share our knowledge throughout the year. We will also be partnering with other insurance industry experts to ensure that we can deliver comprehensive advice on risk management.”

Howden plans to launch a range of products and initiatives over the next year which will be designed to meet the requirements of specific segments of the surveying industry.

“We understand the diverse nature of the sector and recognise that the needs of a valuation surveyor will vary significantly from those of a project management practice. This is where our expertise at tailoring solutions will be really valuable.” adds Emma Vigus, who leads the surveyor’s team at Howden.