WOBO thanks the Welsh Government for the notification in respect of insurance and Approved Inspectors.
Changes to the Criteria for Schemes of Insurance for approved inspectors
Following engagement with Approved Inspectors and the insurance sector, the Welsh Government are issuing new criteria for approval of schemes of insurance for approved inspectors which will preserve the historic consumer protections, better align with requirements on other professions and to provide for greater commercial flexibility.
The new criteria allow:
• a banded excess cap, proportionate to each firm’s turnover
• six years automatic run off cover, aligning the requirements for Approved Inspectors with other regulated professions
• specific restrictions to insurance cover, supported by a 2-tier structure of approved inspector oversight
The level of protection offered under existing approved schemes will be preserved for building control projects that already have a valid Initial Notice.
Flexible cover for Approved Inspectors
To support greater transparency of Approved Inspector approved schemes of insurance, the Welsh Government are introducing a two-tier structure for Approved Inspectors. This will allow insurers and Approved Inspectors to tailor their schemes to suit the risk profile of Approved Inspectors working in different tiers. It will also assist the local authorities make the correct judgement when receiving notices from Approved Inspectors.
Guidelines for schemes of insurance
Prior to being considered an approved scheme of insurance, schemes must be approved as providing adequate insurance cover by Welsh Ministers.
Existing schemes wishing to make any changes to any of their terms, including to reflect the amended criteria, must be re-approved by Welsh Ministers.
New or revised terms should be provided in full to:
enquiries.brconstruction@gov.wales
We are asking CICAIR to strengthen their audit process to support the insurance requirements in the legislation and Code of Conduct.
gov.wales/new-criteria-approved-inspector-insurance-wgc-0062021-html