MOFS Guide to Legal Indemnity Insurance - Flipbook - Page 2
We are a leading Legal Indemnity insurance
specialist with a large team including two real
estate solicitors with over 20 years’ market
experience. We have over 100 years’ combined
industry experience which we use to help clients
on thousands of separate matters each year.
We provide a comprehensive insurance procurement service which
assists the legal representative in ensuring compliance with FCA rules
whilst providing the most suitable terms for the client. We follow all SRA
and CML recommended processes and protocols, where appropriate,
and are fully compliant with both the Insurance Distribution Directive and
Our experience in this niche area of business, and the amount of
premium we place in the market along with the relationships we have
with the main insurers, gives us flexibility of terms and competitive
premiums - benefits we can pass on to our clients.
1. A full market appraisal, where appropriate.
2.Continuous benchmarking of insurers’ terms, premiums, and
3.Advice as to how cover should be structured, what should be included,
and what you and your client should be aware of.
4.A formal recommendation as to where cover should be placed, and the
5.A Statement of Demands and Needs in advance of the transaction
6.A full claims handling service on behalf of the Insured,
Our parent company, Mason Owen & Partners, was established in 1967
and is one of the largest independently owned property consultancies
in the country. MOFS was established in 1988 and in 2008 we were one
of the first 30 brokers in the country to be awarded ‘Chartered’ status
by the CII (Chartered Insurance Institute), a reflection of our professional
knowledge, integrity and the quality of advice we provide. Our ownership
is independent from the insurers with whom we trade, so you can rest
assured that as we act as the agent of the client, when we recommend
an insurer, we will always put your needs first.
Presentation of the Risk
In order to help the underwriter make a clearly-considered and appropriate
assessment of the risk, it is important to make sure they have all relevant
information. This is particularly important post-Insurance Act 2015, which
places on the Insured (and their representative) the duty to present the risk
in a fair and easily-accessible format and avoid data dumping.
Where relevant, we can seek to have non-invalidation and non-imputation
clauses specifically added to policies, giving levels of comfort for lenders
and successors in title. This can provide additional protection against any
relevant non-disclosure or misrepresentation from another insured party.
We have a simple general risk submission form that
encapsulates the basic information we need to get
the risk in front of insurers and will speed up enquiry
response times. To obtain a copy of the form and to
send enquiries, please email our legal indemnity team
Testament to our service is that
we work with individuals from
around half of the Top 100 UK
law firms, most of the national
lenders and surveyors.
When approached for a policy, we use our
knowledge and influence within the market
to obtain terms, and provide to you on every
Liverpool 0151 255 2600 | Norwich 01603 393 701 | email@example.com