RICS regulation PII guidance on risk, liability and insurance in valuation work (ARCHIVED)
This has been replaced by Risk, liability and insurance in valuation work, 2nd edition guidance note.
This guidance, developed by RICS Regulation, aims to make valuers aware of, and be better informed about, the main risks and liabilities associated with negotiating valuation contracts with clients.
By understanding key legal concepts and risk areas, valuers will be in a stronger position to negotiate with clients and avoid major risks and pitfalls. The risks, liabilities and insurance concepts in valuation work are complicated. After considering this guidance, valuers may decide to take advice on specific aspects of practice from their insurance brokers and from legal advisers. This document should assist valuers in doing so.