Home Information Packs – Compulsory Items (4)

Standard Searches The fourth compulsory item is the standard searches i.e. i) The local land charges register official search certificate – this can be obtained from a personal search company or the local authority direct. ii) Local enquiries – other records held by the local authority on matters of interest to buyers e.g. planning decisions,…

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Home Information Packs – Compulsory Items (3)

Sale Statement The third compulsory item is the sale statement provides some basic information about the property i.e.: i) The full address ii) Whether the property is freehold, leasehold or commonhold iii) Whether the property is registered or unregistered iv) Whether or not the property is being sold with vacant possession

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Home Information Packs – Compulsory Items (2)

Energy Performance Certificate The second compulsory item is the Energy Performance Certificates rates a home according to its: i) Energy efficiency on a scale of A-G where the most efficient homes are banded A. ii) The impact the home has on the environment again on a scale of A-G where the home with the lowest…

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Home Information Packs – Compulsory Items (1)

Home Information Pack Index The first compulsory item is the index which lists all of the documents contained within the Home Information Pack (HIP) and provides details of any compulsory documents which are missing and the steps being taken to obtain them. The index provides a checklist for sellers, buyers, estate agents and enforcement authorities….

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New Support Team from Royal & Sun Alliance

Insurance company Royal & Sun Alliance are introducing a new support team for its insurance intermediaries with the aim of improve its communications infrastructure. A strategic relationship manager will lead the team and be assisted by a trading partner, a service delivery partner and a claims delivery partner. The new roles have been piloted with…

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Insurance Claims – Reservation of Rights Clause

AXA, ACE, AIG, Allianz, JLT, RSA, XL, Zurich, HSBC, Lockton, Marsh, Willis and Loss Adjusters Crawfords are all backing Airmic in their attempt to resolve large claims within 90 days by limiting the use of the reservation of rights clause which it is thought insurers are routinely invoking. The reservation of rights clause effectively puts…

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Website Update

We have just updated our professional indemnity and marine insurance pages and hope that these will be clearer for all website visitors to use – if you have any comments or feed back in respect of any of our website content please do not hesitate to email Emma Robinson on er@insurance2day.co.uk.

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Home Information Packs and the HIP Code

Insurance2day recommend that estate agents only obtain HIPs from providers that subscribe to the HIP Code which was established to protect consumers, estate agents, conveyancers and mortgage lenders by necessitating HIP providers to meet high standards and carry a minimum £2,000,000 professional indemnity insurance. The HIP Code also requires there to be an independent redress…

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Tokio Marine Europe Insurance

‘AA’ rated insurer Tokio Marine Europe Insurance has recently joined the ranks of the British Insurance Brokers Association (BIBA) as an associate member, it’s parent company Tokio Marine Group is Japan’s oldest and largest insurer. In the U.K. Tokio Marine’s main product lines are marine, property and liability insurance.

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Professional Indemnity Insurance – Retroactive Date

Professional indemnity insurance policies incorporate a retroactive date which effectively excludes claims arising from things done, or that ought to have been done, prior to this date. Whenever cover is changed to a new insurer it is important that the existing retroactive date is carried forward to the new policy. If there is a break…

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