Generally, PII provides monetary compensation if the professional is proven to have failed to exercise the care that a similarly qualified and experienced professional would have exercised in similar circumstances, when performing similar duties, and harm has resulted.
Party Wall Surveyors, when working strictly within the provisions of the Act, do not need to maintain PII for the following reasons:-
- The Act doesn't require a Party Wall Surveyor to give construction advice;
- The Act doesn't require a Party Wall Surveyor to give advice on the provisions of the Act itself;
- The Act has procedures for avoiding the consequences of a surveyor's failures to act diligently.
If, however, an Award, or part, is found to be invalid on Appeal, and the cause is found to be fraud, collusion, or partiality by the Surveyor(s), or unfairness in the procedure or Award, then the Surveyor(s) would be liable for losses incurred by the Owner(s).