Need to speak to an expert about a bespoke insurance policy? That isn’t a problem if you order your legal indemnity insurance through STL.
Our support team at CLS will consider any request by carefully examining the triggers that could potentially bring about a claim. How could they be defended?
For example, in the case of restrictive covenants, the underwriting team will consider the following: can restrictive covenants they be modified or released via the Upper Tribunal (Lands chamber) or not? Is the land going to continue its current use or will it change? Will a change attract the attention of third parties? No change means the risk is unlikely to get worse in the future, the threat of a claim is likely to be remote, and therefore the premium will be lower.
Example – Bespoke insurance for development sites
When developing land, cover is usually required, not just for lenders and funding purposes, but also for the developer and their plans for the site. The underwriters need to take into account a number of factors: whether the transaction is at a pre or post planning stage, whether there were any material objections at planning, whether the beneficiary is a well-known entity and whether there is a note of release or modification noted on surrounding titles.
Any bespoke request is considered, by applying the underwriting ‘test’ to every risk. Underlying issues are researched and translated into insurable risks. However complex the transaction, and the insurance requirement, you can be safe in the knowledge that we will help you complete on time.
If you need any help with ordering legal indemnity insurance, arranging training or booking a demonstration, contact your Account Manager or our Helpdesk on 0800 318611.
Go to our website www.stlgroup.co.uk for further information and to view samples of the array of risks covered.
This article was submitted to be published by STL Group Limited as part of their advertising agreement with Today’s Conveyancer. The views expressed in this article are those of the submitter and not those of Today’s Conveyancer.