SUMMARY AND IMPLICATIONS
This briefing considers some aspects of valuation claims against
surveyors of commercial property, the context of those claims and
the steps surveyors may consider to protect against them.
- Drivers: For claims of this type − losses and
reputational damage for investors and institutions; and
availability of professionals' PI cover.
- Protecting against claims: There are steps such as preservation
and preparation of files that can be undertaken in readiness for
any claim.
- Protecting against future actions: Terms and conditions of
appointment can help limit the scope for claims to be brought.
CLAIMS REFLECTING MARKET CONDITIONS
Over the last two years, there has been considerable interest on
the part of lenders in seeking to recoup losses on property
investments through claims against the professionals who acted on
them. These claims have related primarily to investments made
shortly prior to the financial crisis: the timing of
