RICS Knowledgebase

Under RICS Red Book a valuation is the responsibility of the individual, a valuation is not carried out or signed by a firm.

Approximately 25% of valuers do not work within a Regulated Firm*. There is no requirement on those firms to have in place insurance that meets RICS Professional Indemnity Insurance requirements. Whilst the insurance of the company should cover your work as an RICS member, it is essential that you check that the insurance arrangements that the firm has in place do cover the work that you are undertaking or have your own cover.

It is also possible for an employer wo is not RICS regulated to become part of this scheme where Sponsoring Non-Regulated Organisations are organisations that pay fees and provide firm related regulatory information on behalf of their Registered Valuer employees but are not an RICS Regulated firm. https://www.rics.org/regulation/regulatory-compliance/requirements-support/sponsoring-non-regulated-organisations 

*source: Valuation Review, September 2023

If you have any further questions please do contact regulation@rics.org