Surveying the risks.
The levels of risk involved in chartered surveying are unpredictable and so it pays for insurers to be cautious when underwriting professional indemnity, says Simon Threadgold.
Nothing could be less like peas in a pod than charteredsurveyors.
The premiums they are charged for professional indemnity cover vary
enormously.
The spread ranges from below 0.5% of fee income right up to 7%.
This is one of the largest spans of any profession. It is due to the
variety of work undertaken, the locations it is done in, and the company's
claims record.
In the surveying business, any mistake that costs the client money ends in
litigation. If a surveyor gets a property rent review date
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