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By Tom Lowe2021-04-07T11:04:00+01:00
Insurers will not be allowed to exclude fire safety claims on buildings of four storeys or less from next month
The Royal Institution of Chartered Surveyors (RICS) has introduced new insurance terms which improve fire safety cover for professional indemnity insurance (PI).
The minimum policy wording and insurance rules, which came into effect at the beginning of the month, have been targeted to help chartered surveying firms hit by fire safety exclusions.
The new rules came into effect last week
Under the new rules, from 1 May, insurers will not be allowed without specific exemption to exclude fire safety claims on properties four storeys or less.