Valuers – Round Two?

The UK is now out of recession and the new Government is promising stability and growth, but does that mean that surveyors and valuers and their professional indemnity insurers can breathe a sigh of relief?

It is well known that in the last recession in the early 1990s surveyors and valuers were a major target for professional negligence claims. The fact that surveyors and valuers have to maintain a minimum level of professional indemnity insurance cover means that they are often viewed as softer targets with deep pockets. The collapse in the property market, both residential and commercial, exposed a variety of transgressions. It appears that the same pattern is emerging this time around.