Analysis: Are we moving towards market failure for high-rise buildings?

Grenfell Tower

Market failure is never a good look, for any sector, in any circumstances. Yet that is exactly what has happened in the professional indemnity (PI) market for fire safety surveyors and engineers.

While there are well-publicised issues in the wider liability market, what has done it for this sector is the introduction, by the Royal Institute of Chartered Surveyors (RICS) in December 2019, of the EWS1 certificate. Initially designed to reassure lenders of a building’s safety (or otherwise) in a

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