Insurance solutions to enable the swift, smooth and secure transfer of commercial assets and protect development opportunities.
Legal Indemnities and Title Insurance encompasses a broad range of legal risks which may affect a property or land. These can range from small technical risks to active litigation. These defects can seriously affect the value of a property and could, in more extreme cases, involve the loss of the entire asset. Many of these defects could be resolved via the legal system, but the cost and/or time required to do so could delay or even abort the transaction.
Our policies indemnify clients from financial loss, should a defect affect the property. The cost of defending any third party challenges and covering any eventual loss in the value of the land ensures that you are fully protected. Our policies allow you to buy in confidence and lenders can secure their loans without fear of financial loss from the identified risks and/or unknown defects.
We have over 40 specific risks on our commercial online comparison site for properties in England, Wales and Scotland, where there is no future development planned at this time. If you are planning to develop the property or you are unable to find a suitable product, please do not hesitate to contact us. Our specialists pride themselves in being able to think outside the box and provide cover for risks, which the traditional legal indemnity providers reject.
We have insured real estate assets in over 35 countries worldwide and portfolios of properties in multiple jurisdictions. We are proud to have the largest capacity in the market, so no deal is too big or complex. Please speak to a member of our team below for more information.
Broadly, cover is placed in two ways:
- Specific risk insurance – where a defect has been identified that needs to be removed/mitigated. Some of the most common risks include restrictive convents/title conditions, lack of easements/servitudes, missing documents, zoning or planning breaches, chancel repair or the mines and minerals under the land being excepted
- All risk insurance – Where there is no specific defect, but cover is required against a number of unknown risks. This can arise where full due diligence has not been carried out, or the seller is unable or unwilling to stand behind the warranties given at exchange/completion (often administrators/receivers or a fund winding up). Examples of insured events include boundary disputes, fraud, forgery, documents which were not registered against the title or otherwise undiscoverable. This product is designed to provide you with complete peace of mind.
- Most specific risk policies provide cover in perpetuity and for any onward purchasers, lessees, mortgagees and their successors.
- All risk policies wrap around the current transaction and protect the owner for as long as they own the property. In some cases, we can extend this to an onward purchaser, where assets will be quickly flipped on.
- Our policy wording has been designed to be easy to understand, but provide expansive and comprehensive coverage. We pride ourselves in our flexibility and our underwriters are always happy to amend policies as and where required to ensure clients obtain the right cover. We are always willing to look at innovative, bespoke solutions and custom wordings, unlike some traditional insurers.
- Please ask for a copy of the policy wording for the full list of insured events.
What’s Not Covered
- Unless covered as a specific risk, known matters that already affect the title/ownership on the day the policy is issued, e.g. legal obligations, pre-emptions, leases, mortgages, rights of way, existing utilities
- Future events causing risks that didn’t exist on the day the policy was issued
- Pollution and contamination
- War and terrorism
- Compulsory taking e.g. by a government (unless the legal process has started before the policy is issued)
- Risks that are insured by a household policy
Please ask for a copy of the policy wording for a full list of the Uninsured Matters.
How Much Does it Cost?
We price our legal indemnity covers competitively and, with the backing of our multiple insurers, we can provide flexible options. Prices range per jurisdiction.
For England and Wales, our Quick Quote facility and My Legal Indemnity Shop can provide quotations for over 40 specific risks in the UK. Where development is anticipated, pricing range as follows:
In Western Europe, pricing is as follows:
In Central & Eastern Europe, pricing ranges as follows:
Speak to the team
Adam Studied Law at Durham University, before moving to London where he worked as a legal indemnity underwriter for five years, specialising in complex risks, large portfolios and rights to light.
Since then, Adam has spent the last three years working as a legal indemnity broker, finding solutions for a wide range of international transactions, including some of the largest in Europe.
Josh joined DUAL Asset Underwriting in July 2015 with 12 months experience as a junior underwriter. Since then, he has demonstrated his technical ability and commercial awareness and become a fully independent and motivated commercial underwriter.
Josh is experienced in dealing with both residential and commercial title risks allowing him to consider a wide range of real estate issues, and enabling him to find insurance solutions in a flexible and efficient manner.
Jess studied Law at University of Cumbria before moving to London to continue her studies in Legal Practice. Jess started her career in underwriting in 2016, before joining DUAL in April 2018.
Jess primarily considers more complex legal indemnity risks and rights to light, with a particular interest in restrictive covenants.