The Royal Institution of Chartered Surveyors (RICS) is setting up a Members' Support Service and formulating Guidance, with the help of law firm CMS Cameron McKenna, to minimise the risk of claims being brought against its members.
RICS is the first organisation to take such measures after the Merrett v Babb ruling in 2001 that left employees who provide specialist advice vulnerable to claims being made against them personally.
Claims can be brought many years after the act or omission took place but it is often difficult for employees to obtain insurance where their employers' policies do not cover them.
CMS Cameron McKenna partner Peter Maguire and solicitor Martin Davis are working with RICS' insurance adviser IMS to advise on the legal, regulatory and insurance issues involved in the move.
The support service provides: information on minimising personal liability, payment - at its discretion - of claims and legal representation where professional indemnity insurance is not available, and advice on professional liability issues.
The Guidance will explain the potential liabilities of the employee and the steps that may be taken to limit personal exposure.
CMS Cameron McKenna partner Peter Maguire commented: "By providing the Members Support Service and preparing the Guidance, RICS, with specialist advice from CMS Cameron McKenna and IMS, is taking the lead in protecting its members, in certain circumstances, from the very real risk of being made personally liable."
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