Members of The Property Ombudsman (TPO) are now able to take advantage of highly competitive rates for Professional Indemnity Insurance and Client Money Protection.
“PI + CMP” is a scheme only available to TPO members who have agreed to operate in accordance with the mandatory TPO code of practice. The scheme has been designed to accommodate TPO members that wish to buy PI in isolation or PI and CMP combined if you are a letting agent.
All TPO members are required to have PI however, whilst CMP is recommended, it is not yet a compulsory requirement. There has been much debate about regulation of the private rented sector and with the new rules that will apply to letting agents having to be part of a government approved redress scheme, it will not be long before CMP becomes a minimum requirement for all letting agents.
“PI + CMP” not only acts as the ideal solution for those TPO members that are not part of a professional association and unable to source CMP, but it also allows TPO agents to review their existing PI arrangements via a Lloyd’s broker that specialises in managing the insurance needs of property professionals.
For more information and to request a copy of the pre-priced statement of fact, please visit our website at the following https://psrib.com/chartered-surveyors-property-professionals/ or contact Oliver Wharmby on 020 74694989 / pi.cmp@psrib.com
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