Encompassing vital elements of cover to protect Resident Associations, Residential Management and Right to Manage Companies along with their directors and officers.
Elements offers three main covers:
- Defence for the organisation itself
- Defence for the directors, trustees, partners and officers
- Defence against employment tribunal claims
This includes cover for:
- Cyber Fraud and Cyber Threats
- Theft of Service Charge Funds by Deception
- Property Legal Expenses and Property Tribunal Defence
It supports you against:
- Every regulator
- Regulatory investigations
- Regulatory prosecutions
- Breaches of contract
- Fees for intervention
Protecting your leasehold obligations
Most leases will contain a discretionary clause allowing you to purchase this cover at a modest cost, thus enabling you to maintain a tightly managed budget with the peace of mind that you are protected against many of the common potential financial risks.
Expert Advice when you need it
Automatic access to professional legal representation and advisory services provided by rradar who are a unique, forward thinking law firm. The legal service is provided by their team of lawyers providing you with specialist knowledge when you need it most. And because they are a law firm you enjoy full legal privilege, thus ensuring any information shared with them cannot be used against you in court at a later date
Can your clients afford to ignore this cover?
- Director of an RTM company sued for defamation by previous managing agents. Penalty £16k
- Residents Association failed to comply with an improvement notice from the council. Penalty £13k
- Leaseholder sued RTM directors for decorating the common parts without consent. Penalty £15k
- RTM directors said no pets but the lease allowed them. Leaseholder sued for a lost sale as buyer had a cat. Penalty £5k
Summary of key covers:
D & O Liability
- Limits of indemnity from £100,000 to £3m
- Legal costs, awards and settlements for any claim or regulatory action brought against any past, present or future director, officer or employee
- Claims against directors for incidental professional negligence
Company Legal Liability including Cyber
- Legal costs, awards and settlements for any claim or regulatory action brought against the company.
- Claims caused by any cyber liability £100,000
- Theft of money by deception £50,000 any one claim (£2,500 excess applies)
Employee Practices Liability
- Legal costs, awards and settlements for any employment claims brought against you or any past, present or future director officer or employee.
- Limit of Indemnity £25,000
- Including Contract Disputes covering legal problems with renovators and service providers
- Cover for tax investigations and disputes over the use and maintenance of property, including representation at the property tribunals.
View the full brochure here Midway Insurance Elements