The Royal Institution of Chartered Surveyors (RICS) has renewed the appointment of Howden, as its preferred Professional Indemnity (PI) and Cyber Liability broker, following a competitive tender. The appointment covers a three year term.
Emma Vigus, Director at Howden, commented: “We’ve worked closely with the RICS for almost 20 years and have been their preferred partner since 2010. We are passionate about working with RICS professionals and firmly believe that the partnership gives us an opportunity to make a real difference to the management of insurance and risk for all surveying firms, whether large or small. PI insurance rates have reduced since we were originally appointed. Notwithstanding this, there remains a strong need for the profession to have access to a trusted insurance broker who proactively and effectively advises surveying firms of all shapes and sizes from sole traders through to multi-nationals. That has been and will continue to be at the heart of the service we provide.”
Vigus continued: “The recent launch of our Bristol office and the strengthening of our regional presence throughout the UK will further enhance our ability to meet the needs of surveying firms all over the country, irrespective of size or discipline. The next year will see us focus on developing our products and service offering with a particular focus on smaller firms and those firms involved in construction related disciplines.”
The Cyber Liability offering was incorporated into the PI partnership in 2016. The adoption of stand-alone Cyber insurance remains low amongst professional services firms but Vigus predicts this will change as businesses become increasingly aware of the risks posed to both IT infrastructure and data. She explained: “The implementation of the General Data Protection Regulation in May 2018 will heighten this awareness and encourage firms to recognise the value in both the cover and the incident response services that cyber policies provide.”
Malcolm Perryman, RICS sponsorship and affinity manager, commented: “After a formal tender process we have re-appointed Howden as our preferred broker of PI and Cyber Liability insurance. We have worked with Howden for many years and we know they combine excellent insurance market contacts with a strong understanding of the surveying sector. We have every confidence that the team at Howden will endeavour to provide all RICS members with access to informed advice and competitively priced, robust insurance solutions.”