Designated Professional Body
What does this mean for your firm?
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RICS is an approved Designated Professional Body (DPB) Scheme. Approval was granted by both the UK's Financial Services Authority (FSA) and HM Treasury in respect of general insurance mediation activities undertaken by RICS members.
This means that RICS can grant a licence to firms and regulate them for the purpose of general insurance mediation activities.
What does this mean for your firm?
If your firm engages in or is planning to undertake general insurance mediation work then this information is important to you. This is likely to be the case if, for example, your firm helps clients to complete insurance documentation or offers clients insurance advice or services.
If you do general insurance mediation work you MUST be authorised by us, the FSA or be an appointed representative. Your firm may be eligible for the RICS DPB scheme.
To be eligible for the RICS scheme, any general insurance activities that the firm carries out are incidental to the provision of surveying services to individual clients.
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View DPB rules and guidance for the DPB rules
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View the top ten common findings from reviews of firms holding a DPB licence
Pages in Designated Professional Body
- 1. You are here What does this mean for your firm?
- 2. Changes to DPB Rules
- 3. Fees
- 4. Further Information
