Building Regulations – legal indemnity claims

Building Regulations policies are one of the most commonly used of our products.

This has been heavily influenced by the Cottingham case, but most notably because of the UK Finance Mortgage Lenders Handbook.

In this video Naomi Hare and Wesley Timothy of DUAL Asset discuss claims on these policies. In an unusual twist time is spent assessing the building regulations claims that are rejected.

Listen in to discover why this is the case and the potential risk to your professional indemnity insurance.

We’ll be looking at:

• what the policy does cover (local authority enforcement action);
• claims that have been paid and how much they cost the insurer;
• potential claims that have been denied and why;
• Insurers concerns regarding denied claims;
• the end users understanding of the coverage;
• how professional indemnity insurance could be at risk (ref the Cottingham case).

Learning Objectives:

• More about the rationale of using insurance to enable a transaction to progress efficiently;
• The importance of highlighting the extent of cover being provided;
• To understand how the policy is perceived by the end user when called upon;
• The implications this has on your professional indemnity cover.