Sellers of property often want to come out of a transaction without legacy liabilities to worry about in subsequent years. Additionally, buyers of property (and their funders) may not want to rely on the security of the seller to honour warranties and indemnities detailed in a sale & purchase agreement.
Warranty & Indemnity insurance provides a tidy solution to transfer the risk of such stakeholders to the insurance market. Furthermore, the relative cost of Warranty & Indemnity insurance makes it an attractive alternative to other traditional solutions such as placing sale proceeds in escrow or using bank guarantees.
Understanding and managing the risks associated with asset acquisition and disposal is a complex matter and it is essential to have experienced and capable risk advisers.
PIB Property’s transactional risk and insurance specialists work closely with clients and their advisers to design and implement bespoke solutions to help remove barriers to a transaction completing.
In short PIB Property can help any party involved in a transaction where there is a need to transfer some part of the risk associated with that change of ownership, including:
A seller may seek out a Warranty & Indemnity insurance policy for a number of reasons including:
Alternatively, a buyer may seek out a Warranty & Indemnity insurance policy for a number of reasons including:
PIB Property’s Warranty & Indemnity specialists will work closely with you to clearly understand your sale and purchase agreement and develop an appropriate risk transfer strategy.
We also recognise that these deals are often urgent and always highly confidential. Promptness and prioritisation of your case, together with absolute discretion, is a given when you deal with PIB.
If you would like to speak with us to find out what PIB can do for you, please get in touch by using the contact details below.