Professional Indemnity Insurance

It is a mandatory requirement of membership that business owners ensure their company holds appropriate Professional Indemnity Insurance. If you do not already have this in place, it can be arranged through any insurance broker but competitive quotes with up to a 20% discount, can be obtained through Arthur J. Gallagher who are our insurance broker partner.

Discounts on Professional Indemnity Insurance

You can contact Arthur J. Gallagher below:

Agent Assure Logo

Click here to complete an online quote form Telephone: 01384 822206

Minimum Limits of Indemnity

Your firm will need one of four levels of cover depending upon your company's business activities and fee income. Please ensure your cover meets the appropriate level.

For business owner firms that undertake work that includes residential lettings or property management, the minimum levels of indemnity are as follows:

  • For organisations with a total annual fee income up to and including £150,000, the limit of indemnity of the PI Insurance policy should be a minimum of £150,000.
  • For organisations with a total annual fee income over £150,000, the limit of indemnity of the PI insurance policy should be a minimum of £500,000.

For business owner member firms that undertake work that does not include any element of residential lettings or property management, the limit of indemnity of the PI insurance policy should be a minimum of £100,000.

For business owner member firms that operate as a CASP, PI insurance cover should:  

  • Have no exclusion or limitation in respect of fraud or dishonesty (fidelity cover relating to the CASP's own money may be limited or excluded), and 
  • Have a limit of at least £2m in respect of any one claim. 

You will be required to make an annual declaration about the activities and fee income of your company so that we can ensure you have the correct level of PI insurance cover.

Basis of Insurance Cover

For business owner member firm’s PI insurance policy must include the following elements:

        • Cover is on a civil liability basis;
        • The limit of cover must be on an “any one claim” basis;
        • Indemnity in respect of any claims arising out of all work undertaken since the inception of the business;
        • Cover for liability arising out of all aspects of the PPD member firm’s activities.

Evidence of Insurance Cover

You must provide us with evidence of your professional indemnity insurance cover annually as a condition of continued membership of the Association. We would therefore ask that you forward to us evidence of renewal of your PI policy within 10 working days of your annual renewal date. Evidence should show the insured, the level of cover, duration of policy and insurer. Typically, this would be a copy of the front cover of your PI renewal schedule.

Continuous Policies

If you have a continuous policy, we appreciate that insurers do not always automatically provide a yearly schedule. We still require evidence that the policy is currently on cover. Insurers will normally provide a current schedule on request. Alternatively, a letter or email from either your broker or insurers would be sufficient. An invitation to renew or invoice is unfortunately not sufficient.

Further Information

For further information on the Professional Indemnity Insurance requirements please see our FAQs page, or alternatively call 01926 417 365 or email

Please note: For Regulated by RICS companies, or companies regulated by the Law Society or the Law Society of Scotland, the above requirements do not apply. We accept evidence that a company is regulated by one of those organisations in lieu of our own regulation.