Niche Property Products

This planning indemnity offers protection against the financial consequences should a challenge to a judicial review be upheld and may be sought by Contractors, Property Owners, Property Developers or Funders.

All planning permissions are subject to a short period whereby third parties can challenge the validity of the planning permission which may cause a delay in progressing a development.

Cover can be provided in respect of loss resulting from a challenge to planning permission including:

• Increased Cost as a Result of Delay
• Contractual Liabilities Including Penalties
• Abortive Costs of Works
• Loss of Market Value
• Additional Interest Payments and Loan Penalties

No application form is required and a check list of the information required will be provided for each enquiry and the premium will depend on the circumstances of each case.

This cover is available for vendors and/or purchasers and increasingly sought by funders of property and land deals. The cover is triggered by a third party notification of loss or damage and the three key areas of cover are:

• Own Remediation Costs
• Third Party Remediation Costs, Damage and Compensation
• Business Interruption

There is a very limited market for this class of insurance and we have access to all of the insurers involved. Confirmed quotations can be obtained based on a check list of information but application forms are normally required in order to bind cover.

Quality presentations are vitally important to secure the best terms available and we work very closely with our connections to ensure a comprehensive presentation to the market.

Policies are available as annually renewable contracts or for fixed periods up to 10 years and may be extended upon expiry and cover is available for known and unknown defects and previously affected sites.

This class of insurance is also known as Buildings Defects insurance, Latent Defects insurance or Decennial insurance as policies are issued for a 10 year term.

The cover gives added security to the funder and assists the developer in selling leasing or renting a building and in the event of a sale the cover is assignable.

An application for cover should be made at the earliest opportunity as the underwriters liaise very closely with the contractors and developers on all aspects of the work from the design stage onwards. Detailed information and site surveys are essential.

Cover is also available for contracts which have already commenced and in some cases for completed projects and as the insurers will have had little or no input into the selection of materials, design and methods of construction, this will be reflected in the premium and policy retention terms.

This type of policy responds to cover financial losses arising from breaches of the warranties and some tax indemnities and helps facilitate a variety of corporate transactions especially mergers and acquisitions.

The cover is available to the buyer or seller. A buyer policy indemnifies the buyer for losses caused by breaches of warranties and tax indemnities given by the seller in the Sale and Purchase Agreement. It enables the buyer to claim directly from the insurers without the need to pursue the seller.

A seller policy indemnifies sellers for losses resulting from claims made by the buyer for breaches of the warranties and indemnities given in the SPA.

We have extensive experience in arranging block policy facilities that give lenders, investors, and developers fast, streamlined access to essential property indemnities.

Our block policy solutions can cover a wide range of risks, including:

• Search Indemnity – No Search, Search Validation, and Search Delay cover.

• Chancel Repair Liability – Protection against unexpected repair claims.

• Environmental Risks – Safeguarding against contamination-related liabilities.

• Defective Title Splinter Policies – Covering ownership and title-related defects.

By setting up a block policy facility, you can:

• Reduce administrative delays.

• Control costs with pre-agreed terms.

• Secure instant cover without repeated underwriting.

Who Needs Block Policies

1. Lenders – streamline approvals for multiple properties, reduce repeated underwriting.
2. Developers – manage large-scale projects efficiently with pre-arranged cover.
3. Investors – protect portfolios without repeated negotiations or delays.

Benefits of Block Policies

• Reduces transaction delays and avoids repeated legal reviews.
• Provides certainty for lenders and funders.
• Consolidates multiple property risks under one facility, making management easier.
• Protects against multiple types of property indemnity risks without negotiating each separately.

We’ll assess your requirements, source the most suitable facility, and manage the negotiation process from start to finish. Once in place, the facility can be administered directly by you or your appointed team, giving you total control while retaining our expert support when needed.

📞 Arrange your block policy facility today – call 01782 712224.

Cover for the direct loss or damage suffered by the employer or lender as a result of breach of contract by the contractor or principal.