CAAV

As we approach the end of 2023, we felt it quite timely to highlight here those areas which might have had or indeed may yet have, some impact on a Practice’s Professional Indemnity Insurance arrangements. A Softening PII Market? A mixed bag here perhaps. Many PI Insurers, in periods of economic downturn, pull out of […]

Having received a number of requests from members on this topic and following on from our Autumn bulletin which considered Professional Indemnity Insurers’ attitudes to lending valuation work, we now consider by way of this additional Practice Note how your firm might be able to further help itself in managing risk from a professional perspective. […]

Over recent months we have increasingly fielded enquiries from Valuers as to whether they should undertake a particular valuation request, whether that be due to the nature of the valuation or perhaps in view of the lender not being well-known. Whilst we are happy to answer any questions Members have, we thought we would use […]

Key insurance terms explained

CAAV Members’ PII Facility (Update) This facility has once again been the subject of a ‘refresh’ with additional Insurers now on board aspart of a panel arrangement. We have touched upon the ‘hard’ insurance market in previous bulletins but with a very differentmessage for CAAV members. Those insured on the members’ facility through this period […]

We are increasingly aware that some Practices have found themselves required to seek FinancialConduct Authority (FCA) Authorisation, usually at the behest of certain lenders unwilling it seemsto rely on RICS Regulation as a Designated Professional Body (DPB). This does mean that the practice is subject to the Financial Ombudsman Service (FOS), the FCA’sfinancial services dispute […]