Last October the Property Misdesrcriptions Act 1991 was repealed in favour of the new CPRs.
This new law looks like it could significantly increase the liabilities faced by an agent.
The Custodian Property Agents Product has been relaunched to address this new liability. Our product is underwritten by Axa Insurance Plc.
We would say that if ever there was a time where professional indemnity was worth having for an agent then now is it!
What we don’t know can hurt us and being made liable for a duty you were not even aware you had is a real possibility now as these new laws take shape.
Feel free to give us a call on 0207 648 4343 if you wish to discuss any of this in confidence.