Legal Indemnities and Rights of Light

With one of the broker market’s leading Legal Indemnities and Rights of Light insurance teams, PIB Insurance Brokers are at the forefront of innovation in the property transaction and legal risk solutions market. With over 35 years’ experience, both as underwriters and brokers, we pride ourselves on being able to source bespoke insurance solutions from our wide range of insurer partners; and as an independent broker, we will also provide advice on market pricing, policy coverage, market security and the latest developments in insurance risk transfer.

The Team

Head of department, Fraser Pratt, has been a legal indemnity insurance broking for the last 8 years. A specialist in Rights of Light insurance solutions, Fraser is well known as one of the leading brokers in this market and works alongside many of the country’s leading Rights of Light surveyors, solicitors and underwriters to continue to develop this specialist product alongside the everchanging legal landscape.

Alongside Fraser are 2 very experienced legal indemnity brokers, Graham Waller and Claire McGill.

Graham is regarded as one of the leading experts in the provision of insurance solutions for Legal Indemnity issues having enjoyed a 20-year underwriting career in this field, firstly at RSA and then First Title, prior to taking up a broking position in 2013. Graham’s vast experience and pragmatic approach is an invaluable asset for our clients, particularly when presented with non-standard risks, or where a bespoke solution is required.

Claire, like Graham, began her career in legal indemnity underwriting, joining the broking world just over 2 years ago. As a highly sort after underwriter, Claire has made the switch to broking with ease. Her excellent organisational skills, easy assured manner and vast experience stands her out as the consummate professional. No job is too big or too small for Claire, with all enquires receiving personal, hands on service designed to make our client’s lives as simple and stress free as possible. 

The Products

Legal Indemnity solutions (Commercial & Residential)

Providing open market broking services in respect of any title defects whether on a single asset, a development site or on a portfolio of multiple property acquisitions or disposals. As well as the usual risks we can also assist with defective lease issues, as well as a wide range of European title matters.   

Rights of Light

Our Rights of Light insurance experts are available to offer quick and expert advice on all Rights of Light insurance matters, at any stage of a development, even if potential claimants have already been contacted.

Property Dispute Solutions -

Whilst a traditional After-The-Event Insurance will protect the insured for their legal expenses, including adverse costs, these new property dispute solutions can cover defence costs, adverse costs, appeal costs and, importantly, loss in market value (upon a final order). Cover for consequential losses (delay costs, loss of trading receipts and liability to tenants) in the event of an unsuccessful appeal can also be provided.

Transactional Warranties insurance

Traditional W&I insurance cover will often only protect 10% - 20% of the asset value and the insurance will run from the date of signature of the deal to the full survival period of the warranties and indemnities in the SPA. Transactional Warranties insurance can now be purchased through the Legal Indemnities Market to cover the fundamental warranties (i.e. title to shares and title to the real estate asset). The policies will enhance a traditional W&I product, by providing cover for the full value of the asset and covering the full period of the Insured’s ownership (including the period of the Insured’s own future warranty exposure.

Party Wall (Security for Expenses) Insurance

A new and innovative solution that provides comfort to an adjoining owner that the cost of making good any unrepaired damage or incomplete works by the building owner will be picked up by an insurance policy; with funds for repairs being released by insurers in line with RICS guidance i.e. released on the signature of two of the three appointed surveyors (or the agreed surveyor).

As well as comfort for the adjoining owners, policies are also a cost-effective solution for building owners and allows them to meet the request for security by an adjoining owner, without needing to tie up large sums in escrow

What our client’s say

Commercial Property developer

“Many thanks. Your response has been fantastic and I really appreciate it.”

Real Estates Partner at a national solicitors practice

“Sincere thanks for all your hard work this week and particularly today – you’ve been brilliant!”

Partner and Chair at an international legal firm

“Speaking with one of the guests afterwards, I observed that I thought that the biggest take away for many people would be how much the insurance market had moved on, how impressive you were, how knowledgeable you were about the market and, consequently, how it simply made sense for any developer to consider speaking with you at a very early stage. He agreed.”

What Next? 

If you would like further information on any of the products mentioned, please feel free to call or email one of the team below. Alternatively, we would be delighted to meet with you to discuss your options, either independently or alongside your other professional advisors. 

Fraser Pratt

Head Legal Indemnities

Phone Number

07498 762332

Graham Waller

Account Director

Phone Number

07508 457819

07508 457819

Claire McGill

Account Executive

Phone Number

07496 019476

07496 019476