 |
 |
|
ACAI reminds approved inspectors to check their insurance cover
19th January 2010
Under the terms of the CIC Code of Conduct for approved inspectors and their licence to operate, all approved inspectors must be fully insured.
This provides much greater additional consumer protection than is available from local authority building control bodies.
This requirement on approved inspectors includes taking out professional indemnity insurance, with appropriate run-off cover, with a reputable insurance company which has its place of business or offices in the European Union.
In the current economic climate, the ACAI is reminding its members that run-off cover is particularly important in order to ensure any claims made after an approved inspector has retired or ceased to practice will still be paid by the insurer. Run-off cover must be maintained for at least 10 years after ceasing to practice.
Such protection for approved inspectors and their clients is usually part of the cover provided by the Government's permitted insurance schemes, but this has recently been the subject of some discussion, so CLG has written to all insurance scheme providers last year to clarify the situation.
Nick Clay, associate director of Griffiths & Armour says:
"Our scheme has always provided, and will continue to provide, this cover."
For those approved inspectors who use alternative insurance schemes, the ACAI strongly recommends that they seek absolute confirmation in writing from their broker or insurers that fully compliant cover is in place.
This is an urgent legal and commercial necessity for all approved inspectors, and a key part of the benefits of using an approved inspector.
For further information and advice, please contact the ACAI Chairman.
 |
|
|
|
|
|
|
|
 |
