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INDEPENDENT NEWS ‘SNIPPETS’ SPRING 2018

FROM IAN VICARY, ISVA CHAIRMAN

Welcome to my second roundup of “snippets” of information that I hope will help you to keep you up to date.
The ISVA will endeavour in future to provide similar “snippets” in a succinct fashion. Members are encouraged to tip us off with any other useful information that they believe might prove helpful to other members. Please share your knowledge and expertise with the ISVA to make us the leaders and best in practice. In this way we can all help each other to stay on top of our game (business).

ISVA ANNUAL CONFERENCE 2018 – TUESDAY 8TH MAY
We are delighted to be returning to Towcester Race Course in Northamptonshire for the 2018 ISVA Annual Conference and AGM. If you have not already done so, please book your place now. Programme, full details and booking form are available to download from the Members Area of the ISVA website.
Updates (CPD – min 1-hour informal CPD)

DATA PROTECTION (GDPR)
What is “relevant” and “vital” information? Our governing body (RICS) states that we must have PI insurance in place to upkeep our membership as a Chartered Surveyor. It is, therefore, our duty to maintain our PI insurance and not to jeopardise this cover. Insurance companies provide cover to us as surveyors and valuers on the basis that we maintain records for at least the last 7 years but preferably for a period of 10 to 15 years, especially for those involved in design work. If we don’t maintain such records we may become uninsurable and as a result lose our status/membership of RICS and our business as a result.
In summary we must all give this more thought and record our management of data. Other references: :
https://ico.org.uk/for-organisations/guide-to-the-general-data-protection-regulation-gdpr/
Further advice from Simon Marsh at Fraser Miller (in italics) regarding cyber insurance below is likely to be worth considering for many of our members:
GDPR and RICS Professional Indemnity Insurance
Note: This does not constitute definitive advice on GDPR requirements and is purely a guideline based upon current accepted practice. Fraser Miller Limited does not accept liability for the information provided. Fraser Miller Limited. Simon Marsh Centennium House, Pyrford Road, West Byfleet, Surrey, KT14 6LD  Tel : 01932 347 828 Email: simonmarsh@frasermiller.com
Page 1 of 1 Under Rule 9 the RICS mandates:
• A Firm shall ensure that all previous and current professional work is covered by adequate and appropriate
Professional Indemnity insurance cover which meets standards approved by the Regulatory Board.

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