ProFin - Legal Indemnities

DEFECTIVE TITLE
RESTRICTIVE COVENANTS
LEASEHOLD AND OTHER MISCELLANEOUS RISKS
TRUSTEE RISKS INSURANCE
PRODUCT INDEX

DEFECTIVE TITLE

When a property is to be sold or remortgaged, investigations of the title often reveal problems which, if not addressed, could prevent the transaction from proceeding. Insurance can be a quick and easy answer to many of these difficulties.

At RSA we insure a wide range of title defects. Our financial strength and security means we can provide cover for high limits of indemnity where required. The following list shows some of the many defective title policies available, but it is not exhaustive. If you have a query which does not quite match the description - or something quite unusual - please contact us, and we will be happy to discuss your requirements. We will be happy to supply a specimen policy wording, if required.

Lost or missing Title Deeds.
Lack of legal right of way to a property.
Insufficient legal easement for services to a property.
Possessory Title/ Adverse Possession/ Squatters Rights.
Deed of Gift or sold at undervalue/ Property subject to S339-342 Insolvency Acts.
Land subject to rights or other interests e.g. rights of way, easements and charges.
Restrictive Covenants - Please see below for more details about this cover.
Other - there are many other defects which can be insured. After almost 50 years of handling Legal Indemnities we have underwritten countless policies for unusual and one-off situations. We always try to be flexible in our approach , and this is backed by our wealth of experience. We are always willing to consider something new.

Please click here for a copy of our Defective Title checklist

A full list of our covers is shown in the Product Index which can be found by clicking here

Our Defective Title Indemnity policy includes cover for the loss in market value of the property, damages and the legal expenses that are involved should a claim arise. A single one- off premium is required and the insurance is open- ended. As well as the current owner of the property, our policies also protect future proprietors and mortgagees. We can also include a form of inflation proofing which automatically increases the limit of indemnity by a specified percentage, usually 5% or 10% each year for up to 10 years.

Please Contact Us and we will be happy to discuss your requirements.

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RESTRICTIVE COVENANTS

Title to land is often subject to restrictions regarding the type of property which may be built or its permitted use. At RSA, we are happy to consider covering restrictive covenants for properties with existing breaches or where a development or a change of use is intended. In either of these cases, insurance can help to protect the owners against losses and provide security for future purchasers.

Our cover includes:

compensation to parties with the benefit of the covenant to allow the development to proceed.
Court awarded damages.
Demolition and works costs if the development cannot proceed.
The loss in market value of the insured property.
Defence costs.

The policy will provide insurance for the owner, mortgagees and future purchasers of the property. The interest of lessees can also be cover if required. Cover is usually open ended and a one-off single premium only is paid. We can also offer an automatic annual increase in the policy, as a form of 'inflation proofing', which will increase the limit of indemnity typically by 5% or 10% each year over a five or ten year period.

Please click here to contact a member of our underwriting team if you would like to discuss a specific risk or the terms of the policy in detail. We will be happy to supply a specimen policy wording on request.

Please click here for a copy of our Restrictive Covenant checklist

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LEASEHOLD AND OTHER MISCELLANEOUS RISKS

At RSA we can often help solve the title problems affecting residential freehold and leasehold properties and can satisfy mortgagee’s requirements to enable property sales to proceed. Our most popular products include:

Maisonette Indemnity
Contingent Fire Indemnity
Flying/Creeping Freehold Indemnity
Local Land Charge Search Indemnity
Sewer Indemnity

Additionally, we are able to consider cover for the following that can affect your commercial clients:

Loss of Liquor Licence/Club Registration Certificate

This is an annual policy covering losses which may arise should the liquor licence for the premises be revoked. Separate sections cover the mortgage lenders interest, the drop in the value of the property and loss of profits

Contingent Fire Indemnity
Mining or Mineral Rights
Judicial Review Indemnity
Portfolio Covers - we can also provide tailor-made covers for a portfolio of risks, such as search indemnities

Please click here to contact us to discuss your enquiry in more detail and obtain the appropriate checklist

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TRUSTEE RISKS INSURANCE

We can offer policies for specific problems encountered by trustees and personal representatives of estates such as missing beneficiaries or lost wills. In addition to our standard covers, at RSA we also have the expertise to consider unusual and ‘one-off’ trustee risks.

Missing Beneficiary Indemnity

This cover protects the personal representatives and beneficiaries where searches to trace a missing person or a whole line of the family have proved unsuccessful. Please click here for a Proposal Form.

Trustees Indemnity

This is designed to cover a specific or potential breach of trust which is unavoidable. Examples of such situations include: