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DPB AR Help

Which of the following activities is carried out by the firm?

  • Dealing in insurance contracts as agent
    For example concluding an insurance contract on behalf of a client
  • Arranging (bringing about) deals in insurance contracts
    For example negotiating the terms of an insurance contract on behalf of a client
  • Making arrangements with a view to transactions in insurance contracts
    This activity is different to the one above in that it does not have to result in an actual contract being concluded.  If for example, you introduce a client to a broker or insurer for advice and assistance
  • Assisting in the administration and performance of a contract of insurance
    Generally relates to activities carried on after the contract is in force.  Examples of regulated activities under this section could be notifying an insurance claim to the insurer and negotiating settlement of the claim on behalf of the customer
  • Advising on insurance contracts
    For example recommending a specific policy to a person
  • Agreeing to carry on a regulated activity in 1-5 above
    This activity includes the entering into a legally binding agreement to provide services which consist of regulated activities

There is more information in the Designated Professional Body guidance for the scheme and in a help sheet tailored to Property Managers, both viewable at www.rics.org/dpb.

Is your Professional Indemnity Insurance (PII) limit of indemnity €1,120,200 for each and every claim and €1,680,300 for all claims per annum?

To be granted a Designated Professional Body licence, a firm must have in place Professional Indemnity Insurance of €1,120,200 for each claim and €1,680,300 for all claims per annum as required by the DPB Rules Schedule 1.  You should contact your insurers or brokers to ensure you have the correct level and terms of cover.

Under FSA guidelines we are required to ask for this figure in €'s, however providing your policy is equivalent to €1,120,200 at the date that you effected the policy, not at today's date, then you can answer Yes to this question.

Should you wish to check on past exchange rates, then please visit the Bank of England website to see daily spot rates against the Euro. 

What is the total income derived from general insurance mediation work in the last twelve months?

Please give us the best indication you can, of the amount of income which has been generated in the last 12 months, or since the firm was granted a Designated Professional Body licence if this is shorter.

Within the Firm, how many members carry out exempt regulated activities?

Exempt regulated activities are one or more activities permitted under your DPB licence.  Please provide the number of RICS members within the firm that are involved in any insurance activities under the DPB licence.

Eligibility Section

You should declare any new matters since your last application/renewal. You will need to provide further explanations regarding any yes answers. Yes answers will not automatically affect your licence status. We will review the information provided and may make further enquiries in order to assess your eligibility for licensed status. Failure to disclose may jeopardise your firm's licence status.

If you have any queries on eligibility please e-mail regulation@rics.org or telephone +44 (0)20 7695 1670.

Financial integrity and reliability - In the last ten years, has the firm or any principal of the firm made any compromise or arrangement with its creditors, or otherwise failed to satisfy creditors in full?

A Principal is a partner, statutory director or a Limited Liability Partnership (LLP) member.  We also have a held out rule which means that if a person who is not a partner, statutory director or LLP member, shall still be treated as such if they:

  • Are employed by the firm and their job title includes the word partner, director or LLP member or
  • Performs the functions of a partner, statutory director or LLP member in relation to the firm.

By way of an example and in relation to our question, if a principal had been declared bankrupt and this had not been declared on your previous Designated Professional Body application form, then we would need to know about it and the answer should be completed "Yes".

Civil action

In the last five years, has the firm or any principal of the firm been the subject of any civil action relating to its professional or business activities which resulted in a finding against it by a court, or a settlement being agreed?

A civil action is not criminal in nature and is a legal action brought to protect a private civil right or to bring about a civil remedy.  Civil cases can relate to:

  • A claim that one side has broken their contract with the other;
  • A claim that one side has breached a duty imposed by the common law without the need for there to be a contract, for example, a civil action can be brought if a person defames you or trespasses on your land.

As an example we would want to know if there had been any Professional Indemnity Insurance claims.

Good reputation and character - In the last ten years, has the firm or any principal of the firm been:

  • Refused/restricted from carrying on any trade, business or profession for which a specific licence, registration or other authority is required?
  • Refused entry to any professional body or trade association, or decided not to continue with an application?
  • Reprimanded, warned about conduct, disciplined or publicly criticised by any professional or regulatory body?

For example, in the last ten years has any principal of the firm attended an RICS Professional Conduct Panel. 

  • Made the subject of a court order at the instigation of any professional or regulatory body?
  • Investigated on allegations of misconduct or malpractice in connection with its professional or business activities which resulted in a formal complaint being proved but no disciplinary order being made?
  • Convicted of, or been the subject of, charges pending in relation to any criminal offence?

By way of an example, have there been any offences under the Property Misdescriptions Act 1991.  Have there been any convictions or are there any charges pending by Trading Standards?

Road traffic offences that do not lead to a disqualification or prison sentence need not be mentioned.  Please refer to Bye-Law 5(2)(4).
Section 4(2) of the Rehabilitation of Offenders Act 1974 leads to an entitlement to disregard convictions which have become spent under the Act. 

This entitlement applies to our scheme.

  • Disqualified by the court, at any time, from being a director of a company under the Company Directors' Disqualification Act 1986, or given an undertaking not to do so?

The 1986 Act means that courts can impose orders disqualifying company directors.  Further legislation enables disqualification undertakings to be given by director.  These undertakings have the same effect as disqualification orders but do not need the court to be involved. 

I confirm that I/we continue to comply with the basic conditions and ongoing obligations in accordance with the DPB rules.

Please see the RICS Designated Professional Body Scheme Rules and Guidance for further explanation.

Next page: DPB - PII limit of indemnity