Are you undertaking rental determinations?
Recently the API and APIV have become aware of claims situations where an API member has acted as an expert to undertake rental determinations but has not included ‘hold harmless’ or indemnity provisions in their rental determination retainer agreement.
It is our observation that where a retainer agreement with a hold harmless provisions has been included in the terms of engagement the claims or notifications are often withdrawn or discarded.
The API and APIV are also aware of claims in the last two years where the lack of hold harmless and indemnity provisions may have contributed to actual insurance payouts.
To assist members who are conducting rental determinations either through the API Chair Nomination process or on their own, we provide the following information and resources:
- Provide a “Rental Determination Disclaimer” or similar document that includes hold harmless provisions and ensure that all parties to the determination sign the document to acknowledge the disclaimer (a sample document is available to members on the API website).
- Always familiarise yourselves with the disclaimer and indemnity provisions required in undertaking rental determinations.
The API strongly recommends that all members seek independent legal advice prior to utilising any of the API’s sample resources.
More information about the API’s Chair Nomination service is available here