020 7459 3456 [email protected]

Collegiate Underwriting – Committed to quality underwriting of Property Managers


As our working environment becomes ever more litigious, the need for Estate agents to carry professional indemnity (PI) insurance is increasingly apparent.

If you are an Estate Agent, Letting Agent or Property Manager seeking cost effective PI insurance from someone who understands your business, we can help you.

For a quotation

Please download and complete the proposal form on the right, or send a copy of your current insurer’s proposal to [email protected]. If you prefer to speak to the team please call us on 020 7459 3456.



  • Direct contact with the underwriter
  • Full civil liability cover
  • Limits of Indemnity up to £5 million
  • Cover for awards under the Estate Agents Ombudsman Scheme
  • Cover for outstanding fees, fidelity and loss of documents
  • Criminal defence costs with regard to any statute that applies to your business e.g. the Property Misdescriptions Act/Estate Agents Act
  • Defence costs (lawyers, court costs, experts etc.) inclusive of the indemnity limit
  • Compensation for court attendance
  • Industry leading claims service
  • A-(Excellent) policy security


Professional Bodies

If you are a member of NAEA, ARLA, ICAB, NAVA or APIP then your company will need one of three levels of cover depending upon your business activities and fee income. Please ensure your cover meets the appropriate level.

  • The minimum limit of indemnity is £100,000.
  • However, if a company operates as an agency in residential lettings, and the total fee income for the company from all sources is £150,000 or less, then the limit of indemnity must be a minimum of £150,000.
  • If a company operates as an agency in residential lettings, and the total fee income for the company from all sources is over £150,000, then the minimum limit of indemnity must be £500,000.

We also have a fully compliant Royal Institute of Chartered Surveyors (RICS) policy for those firms regulated by RICS, for more information please visit the ‘surveyors’ section of this website.

If you are a member of an Ombudsman scheme then you are required to maintain PI insurance.

Previously under the Estate Agents Act 1979 anyone could set up in business as an Estate Agent unless they had been banned by the Office of Fair Trading or were bankrupt.

More recently the Consumers, Estate Agents and Redress (CEAR) Act 2007 requires those engaging in estate agency work (in relation to residential property) to be members of an OFT approved estate agents redress scheme. A requirement of these schemes is that a professional indemnity insurance policy is held.


Lending Surveys & Valuations

As you are aware, Surveyors have been hit with large & frequent claims relating to lending surveys & valuations. We are able to consider cover for firms who have in the past provided this service but only where the income from this work is incidental to the overall business. We are unable to offer terms to firms who are still active in this field.


Typical Claims relating to Estate, Letting Agents & Property Managers
  • Underselling a property
  • Overvaluing a property
  • Failure to pass details of an offer to seller
  • Lack of clarity about commission fees
  • Inadequate financial evaluation of a purchaser’s ability to buy property
  • Failure to provide adequate supervision for sub-consultants/contractors
  • Employee dishonesty
  • Issuing a defective rent review notice
  • Overstating rental potential
  • Failure to maintain a property
  • Inadequate assessment of a tenants suitability
  • Missing a deadline to action a tenancy break clause

Document Centre

Proposal Form
Policy Wording (RICS)
Policy Wording (Civil Liability)
Runoff FAQ

Runoff cover

All Professional Indemnity Insurance is on a claims made basis, that means you must have an active PI policy at the time a claim or allegation is made against you. It is important to remember that once a PI policy expires you can no longer make any claims against it. Therefore you need to consider maintaining your PI insurance once you cease trading. This is called Runoff Insurance and provides protection against any claims which may arise from work you undertook in the past. The RICS require all of their members to carry Runoff insurance for a minimum of six years once they cease trading, and that they consider maintaining it after this period.

Runoff is an annually renewable policy, the premiums will usually reduce each year to reflect the reducing exposure to insurers.