Client Care Flashcards
What is the purpose of PI insurance?
The purpose of PI is to ensure that if the firm faces a claim, it’s protected from financial loss that it can’t meet from its own resources.
What does the RIC advise that PI policy should meet?
*An ‘each and every’ claim basis.
*The RICS minimum policy wording or more comprehensive wording. As a minimum -full civil liability basis.
*Fully retroactive -all former work conducted by the form is covered.
*Underwritten by a listed insurer.
*Cover for past and present employees.
*Run-off cover. So as not to be exposed to financial detriment in a period following a firm ceasing to trade.
What are the minimum levels of PI indemnity based on?
based on the firms turnover in the previous year (estimated for a new firm)
○£100k or less turnover, £250k indemnity
○£100,001 -£200k turnover, £500k indemnity
○£200,001 and above turnover, £1m indemnity
What is the maximum level of uninsured excess recommended by the RICS?
○Up to and including £500k indemnity, the greater of 2.5% of the sum insured or £10,000 maximum uninsured excess.
○Over £500k indemnity, 2.5% of the sum insured.
What are Clarions complaints procedure?
Complaints procedure -Complaint to be resolved within 10 working days, peer review/escalation if customer requests to be resolved within 20 working days, if unhappy with outcome the complaint can be referred to MP, Counsellor or The Housing Ombudsman Service (HOS)
Can you set out the RICS requirements for a complaints handling procedure for a regulated firm?
‘A Firm shall operate a complaints handling procedure and maintain a complaints log. The complaints handling procedure must include an Alternative Dispute Resolution (ADR) mechanism that is approved by the Regulatory Board.’
What do you understand by client care?
Considering relationship with client from your first communication through to completion of the work/project. Acting professionally, listening to their requirements/objectives, ensuring you are able to meet their needs, taking on feedback and dealing with complaints.
What RICS note covers complaints?
Complaints Handling Guidance Note 2016
What does the Complaints Handling Guidance Note ensure?
Ensures every RICS firm has a CHP that is fit for purpose etc
What should an effective CHP cover?
An effective CHP should:
* be fit for purpose – it should reflect the size and structure of the business
* made available to all staff – a CHP is intended to provide clarity and consistency to staff and
clients
* be understood by all staff – keep records of staff training
* readily be shared with complainants or potential complainants – supplying them with a copy
should be routine
* be regularly reviewed at a senior level – record evidence of review, to include reviewer details
and review date
* be agreed with PII brokers/provider(s) – the CHP should reflect processes that do not
compromise PII cover and
* provide details of access to independent redress if the firm cannot resolve the complaint.
Whenever an RICS regulated firm issues Terms of Engagement, it should be made clear to the
client that the firm operates a CHP.
What client care have you been involved with?
For Sherwood Close Phase III I agreed several client scopes and reviewed to ensure all deliverables for the work were included. I have tendered and agreed fees with the viability, air quality and wind consultant including the fee drawdown schedule to enable us to review spending effectively.
One of my key responsibilities has been to work through Latimer’s appointment document and agreeing these with consultants with assistance from the commercial team.
