As many in the industry will be aware, in June 2015 the Royal
Institute of Chartered Surveyors (RICS) commenced a consultation
regarding a proposed new form of alternative dispute resolution
(ADR), specifically tailored to deal with residential valuation
claims by lenders.
There have of course been a multitude of such claims in the
years following the financial crisis, often first intimated in
large numbers and on a largely unsubstantiated basis, which has had
the effect of reducing the availability and affordability of
insurance for valuers.
If and when implemented, therefore, the hope is that the new ADR
Service, administered by the Dispute Resolution Service (DRS) at
RICS, will serve to streamline the claim process, filter out the
purely speculative claims, and ultimately, of course, save money
and reduce premiums. Moreover, in circumstances where certain court
decisions in recent years have arguably cast doubt on the
reliability and persuasiveness of expert
