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Property Valuation

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PI Cover

The Professional Valuers Association, in association with Picara (Pty) Ltd, has secured an exclusive Professional Indemnity (PI) scheme, tailor-made for registered professional/associated property valuers. Designed by valuers, for valuers, at very competitive premiums and with no insurer imposed pre-conditions on professional reporting and client relationships, in the PVA PI scheme. 

This scheme is only available for Property Valuers who are both registered with the SACPVP as Professional Valuer / Professional Associated Valuer, and are members of the PVA.

Underwritten by iTOO Special Risks on behalf of Hollard, the PVA PI Cover Scheme provides for the following benefits:

1. Any negligent act error omission misrepresentation misstatement whenever or wherever committed or alleged to have been committed,
2. Any unintentional breach of confidentiality trust authority privacy whenever or wherever committed or alleged to have been committed,
3. Any unintentional infringement of intellectual rights, names, title, marks, secrets, patents, ideas or possession, whenever or wherever committed or alleged to have been committed,
4. Any defamation,
5. Any dishonest, fraudulent, malicious or criminal act or omission committed by an insured person provided that no indemnity shall be afforded to anyone committing or condoning such dishonest, fraudulent , malicious or criminal act or omission,
6. Any accidental destruction loss mislaying of or damage to, theft of or unintentional failure to prevent unauthorized access to, Third Party Documents or Third Party Property entrusted to the Insured or which is in the Insured’s custody and control,
7. The costs and expenses incurred in defense of a claim,

The policies are rated on the number of registered Professional Valuers and Professional Associated Valuers in the practice, all of whom must be members of the Professional valuers Association (PVA) in order to qualify for the Scheme premiums. 

Aggregate indemnity limits of R5m, R7.5m and R10m will be offered with a per claim deductible of R5,000 applying. The premiums are annual and are due at the inception of the policy.