The Royal Institution of Chartered Surveyors (RICS) has staged a professional indemnity (PI) forum for leading PI brokers.

It is believed that this is the first time the body has staged a forum for brokers, although the RICS regularly convenes meeting with insurers.

Issues raised at the forum included the feasibility of introducing more long-term surveyors' PI policies to bring stability to the market, as well as the possibility of altering the wording of official RICS professional indemnity policies to make it easier for insurers to issue compliant cover.

The meeting was attended by representatives of around 20 brokers, including Aon, Marsh, Alexander Forbes, Dickson Manchester and Windsor.

Dickson Manchester director Mike Dickson said: "The RICS has a very wide policy wording and, consequently, even some RICS approved insurers are offering quotes that aren't compliant so the possibility of a less onerous policy wording was discussed."

It is understood that the RICS plans to begin staging regular forums for PI brokers every six months.

Last week, insurance law firm Reynolds Porter Chamberlain (RPC) warned that surveyors' PI premiums may rise following the results of a new RICS survey of toxic mould.

The research, to be published this November, suggests toxic mould could be present in 25% of UK properties.

Consequently, surveyors have been warned that there is an increased possibility that they could be sued for diminution of value if they fail to detect harmful contaminants.