House of Commons · Written Ministerial Statement
Contingent Liability arising from the EWS1 Professional Indemnity Insurance Scheme
27 June 2022 · Department for Levelling Up, Housing and Communities
Proposed by Stuart Andrew Con Daventry
Summarised by AI from the official record, so it can contain mistakes.
At a glance
Key points
- The government will back a selected insurer to provide professional indemnity insurance for EWS1 assessments starting in September 2022.
- The scheme will have an unlimited contingent liability for the government.
- The cost and expected losses of the scheme will be offset by premiums from assessors, making it fiscally neutral for the government.
Issue summary
The statement addresses the government's backing of a professional indemnity insurance scheme for EWS1 assessments, which involves an unlimited contingent liability.
Action requested
I am pleased to announce that the department will provide state-backing to a selected insurer administering insurance policies to qualified professionals starting in September 2022. The cost and expected losses will be offset by premiums from assessors, making the scheme fiscally neutral for the government.
Key facts
- On 10 February 2021, the department announced a Government-backed professional indemnity insurance (PII) scheme.
- My department must accept an unlimited contingent liability estimated at c£100m by GAD.
- The scheme will launch in September 2022.
- Assessors will be required to purchase PII policies for EWS1 assessments, with premiums offsetting expected losses.