I am very pleased to announce that we are now providing all your legal indemnity insurance via a new partnership with CLS, the long standing experts in such matters who have been recently providing our chancel cover. This was only signed off on 15th February, so here is a brief statement on what is now available (further details to follow):
“CLS offer legal indemnity insurance products designed to protect lenders, property owners and developers against third party claims arising from problems affecting the title, use or development of land.
Our online suite of legal indemnity products gives you access to over 40 residential and commercial policies with the most competitive premiums and limits of indemnity up to £3 million as standard. We cover a wide range of risks that may be identified in the conveyancing process from Restrictive Covenants and Absence of Easement to Planning and Building Regulations and Contaminated Land.
CLS’ insurance is underwritten by an A- / AA- rated insurance capacity giving your clients access to one of the highest rated security available in the UK property market.”
This is a worthy addition to recent developments when we can now offer quotation systems (for free), transparency solutions, partnershipwith HMLR etc. I know there is some aggressive marketing going on in this area promising all of these things, but they are offering nothing that we don’t have. And, by the way, their claim of integration with HMLR is, at best, misleading and is an ongoing matter with the regulators. I have it in writing that no such integration exists.