[New] Legal Indemnity Insurance for Developers and Property Owners

Legal indemnity insurance offers protection to owners, occupiers, developers, and lenders against known title defects identified during the property due diligence process. It can also extend to defects which cannot be identified and covers a wide range of risks.

Marsh is the world’s leading insurance broker and risk adviser. Through our dedicated legal indemnity specialists and their deep industry knowledge of the real estate sector, Marsh is able to provide clients with broad legal indemnity solutions and full insurance services, and can assist you with the following:

Providing independent advice to your client

• Obtaining insurance via a broker gives you the peace of mind that you are providing objective and relevant information about a policy and thus assisting in the compliance with the SRA Financial Services (Conduct of Business) Rules.

• The obligations of Treating Customers Fairly and the Insurance Distribution Directive can be dealt with by Marsh who are also able to give recommendations to the client.

Time Management

• Let us take care of obtaining a number of quotes which can often be time-consuming, allowing you to focus on other areas of the transaction.

• We are in regular contact with insurers and can ensure urgent quotes are dealt with as a priority.

• We have access to an online facility that can mean very quick turnaround times on lower level standard enquiries that will still provide quotes from up to four insurers.

Claims

• We assist with the claims process to try and ensure the speedy and accurate payment of claim settlements to your client.

Premium Payment

Understanding market conditions

• Whether the risk you require cover for is complex or straightforward, we have strong relationships with over ten insurers and will endeavour to procure cover suitable to your client’s requirements.

• We understand each insurer’s appetite for certain risks meaning we know the insurers most likely to provide competitive terms.

• Using our extensive knowledge of the products available in the market, we will recommend as required additional losses to protect your client in the event of a claim for example delay costs or loss of profit.

• We will advise you of any cover not included within a policy and provide a clear understanding of what is being offered and differences in the various insurer wording being considered.

• Due to the premium we place into the market we are often able to negotiate with insurers on pricing, cover and wordings.

• We have extended credit terms with each insurer meaning payment of premium is not normally due until 30 days after inception.

Please do not hesitate to contact us on the details provided below:

Oliver Jackson +44 (0)7392 123 670 oliver.jackson@marsh.com

Liana Di Ciacca +44 (0)7385 482 984 liana.di-ciacca@marsh.com

Kevin Williams +44 (0)7385 482 805 Kevin.R.Williams@marsh.com

Peter Gill +44 (0)7384 804 093 Peter.Gill01@marsh.com