Headley Insurance Services Ltd
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PROFESSIONAL INDEMNITY INSURANCE 

SURVEYORS, VALUERS AND AUCTIONEERS

Examples of actual claims made and settled by Insurers.

 

It was alleged that the Insured was negligent in supervising a City Centre development.

£25,000,000

It is alleged that the Insured substantially over-valued a property for mortgage purposes.  A claim has been brought for the shortfall on the loan plus interest.

£3,000,000

Employees of the Insured over-valued properties for mortgage purposes.

 

£2,000,000

The Insured were retained to negotiate a rent review, they failed to agree an early figure and the tenants will have to pay a higher rent.

£700,000

The Insured prepared preliminary plans for an out of town superstore.  The construction costs were considerably in excess of those originally anticipated.

£600,000

Whilst undertaking a valuation and title search the Insured wrongly advised on the ownership of two adjoining pieces of land.

£545,000

The Insured sublet a property contrary to the terms of the lease and without informing the landlords.

£500,000

The Insured allegedly failed to follow the client’s instructions when drawing up an Agricultural Tenancy.  The client is facing eviction and loss of his farming business due to a breach of tenancy.

£275,000

A partner embezzled money held in trust by the Insured.

 

£250,000

The Insured acted for a vendor in the sale of a property.  An offer was made by the plaintiff which was accepted by the vendor.  Before completion a higher offer was made by a third party.  The plaintiff claimed that the contract was binding and is demanding specific performance of the contract.

£220,000

It was alleged that the Insured negligently over-valued a commercial property.

 

£150,000

The Insured did not complete a proper survey of buildings to be demolished.

 

£103,000

The Insured failed to correctly set up and check level measurement equipment resulting in a tunnel being out of level and thus requiring alteration.

£85,000

A property company was advised by the Insured to renovate a number of old properties before selling them.  Four years later eight properties remained unsold and the Insured are being held liable for the loss.

£77,000

A survey failed to record serious continuing subsidence in a property.  There is major damage with consequent diminution in value.

£60,000

The Insured transposed two digits in a calculation for a setting out project.

 

£50,000

The Insured failed to serve a rent review notice on time and hence the client lost a potential increase in rent until the next review date.

£45,000

It was alleged that the Insured failed to ensure speedy and economical conversion of a property.

£40,000

The Insured was requested to sell property at auction.  A third party alleged that the property was sold without his authority as owner.

£40,000

By mistake solicitors acting for a farmer’s wife in divorce proceedings were informed of the value of a herd by the Insured.  It was alleged that the divorce settlement was subsequently increased.

£40,000

There was a dispute over a tenancy agreement drawn up by the Insured.

 

£26,000

Stolen paintings were auctioned and the proceeds passed to the thieves (now convicted).  The original owners sought compensation from the auctioneers.

£20,000

A manhole was wrongly positioned due to incorrect setting out.

£7,500

Ensure that these claims don't happen to you and your company, please contact us now and we will be happy to advise you on a professional indemnity policy that is tailored specifically for your needs.

We can be contacted by telephone on 01420 594242, or by filling in our On-line Form.

 

 
Headley Insurance Services Limited is authorised and regulated by the Financial Services Authority in respect of general insurance business.
 
| Headley Insurance Services Ltd, William Curtis House, Lenten Street, Alton, Hants GU34 1HH |
| Offices also at: 1551 Wimborne Road, Kinson, Bournemouth BH10 7AZ |
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