How much cover does an RICS firm or individual have to purchase?
The RICS have minimum requirements relating to the amount of cover purchased. If the gross income of a firm or individual in a preceding year was £100,000 a year or less, then £250,000 of cover must be purchased. This amount increases to £500,000 if the fee income is between £100,000 and £200,000; and to £1M if the income exceeds £200,000.
