Legal Contingency

Legal Contingency

Legal contingency insurance provides coverage for various legal risks and issues related to property ownership and title. It is a specialised niche area of insurance that caters to specific needs and concerns of property owners, buyers, and sellers.

We provide an online trading platform for solicitors who can register and purchase these protection policies for their clients.

• Designed to protect your client for risks arising out of the transfer of assets
• Consistent with a solicitor’s duty to properly manage a client’s risk
• Reduced potential for future professional indemnity claims arising from insured transactions.
• 4 Key covers available

Benefits for Solicitors

These policies are designed to protect your clients for the risks arising out of the transfer of assets, be that from the execution of a will or the sale of property. The policies operate on a ‘no fault’ basis and therefore reduce the potential for future professional indemnity claims arising from insured transactions. Purchase of these policies by clients is also consistent with a solicitor’s duty to properly manage a client’s risk.

Executors & Inheritance – Typical risks may include:

• Missing Beneficiary discovered after distribution of assets
• A new will is discovered which changes beneficiaries’ entitlements
• A Challenge against the validity of the will by someone who is not named
• A person claiming to be entitled to inherit from the Estate, by fraudulently identifying themselves as a Beneficiary, has been paid

Conveyancing All Risk

Buying residential property as a personal dwelling or for investment can be complicated and expensive. These days around 30% of homes are not immediately acceptable to lenders for a mortgage. The reason for this can include specific risks such as: lack of building regulations approval, planning defect, access, legal restrictions, or a problem with a way the lease was drafted. We can offer a range of specific risks policies to cover the above events and more. These products can be bought at any time not just when you first purchase the property.

Specific Risks Conveyancing

No matter how hard and carefully your conveyancer works, buying property will always be risky even if the risks appear decades later. Unforeseen and unforeseeable risks for property owners may include: boundary structure, position of boundaries, untruthful sellers, preservation orders and unwitting breaches of listing requirements.

Our Conveyancing All Risks insurance policy can offer you protection even long after the policy is sold. This product can be bought at any time not just when you purchase your property. Aside from lender requirements and no matter how expert your conveyancer, there will always be risks inherent in purchasing property. Our Conveyancing All Risk Comprehensive warranty insurance buys complete and lasting peace of mind for a small premium.

Commercial Real Estate

Even with the best advice, large commercial transactions can be challenging and difficult to complete. If you have a specific risk or need insurance to back the complex structure financing needed to complete your purchase, then we can help.

Typical specific hazards may include violation of planning/zoning, inadequate easements, violation of legal restrictions, missing deeds and mortgage certificates, breach of public procurement rules, infringements of rights of light, restitution and expropriation of land.

Insurance can support commercial property financing where sellers’ warranties are unacceptable or non-existent or information, time or fees budget are inadequate. We have vast experience of bringing a ‘risk assuming’ counterparty to absorb the weaknesses and ensure your deal closes securely and on time.