What are the benefits of legal indemnity insurance?

Legal indemnity insurance provides financial protection, typically covering potential costs and expenses arising from a third party taking action against an insured and resulting loss of value to the property and legal costs.

Insurance does not remedy the insured defect but offers a simple, low cost and more time-efficient alternative to the work required to resolve a defect or where a defect cannot be resolved.

Unlike a conventional insurance policy the premium for a legal indemnity insurance policy is paid only once.

In most cases the policy automatically provides protection for the property owner’s lenders and the benefit of the policy transfers to successors in title and provides cover in perpetuity.

Standard losses that are covered by defective title, restrictive covenant and absence of easements and other indemnity policies are as follows:

Our breadth of experience and access to a wide variety of insurance markets mean that we can also arrange to include cover for other losses that may be dictated by a particular transaction. These might include potential consequential and business interruption losses where these are relevant such as: