Imperfect Title

    Solving title problems!

    Our simplified product suite comprises eight policy wordings, covering 8 Heads of Loss that are multi-jurisdictional and which, can be tailored to be sector specific and meeting transaction requirements. Please choose the type of cover that you require and simply…

    4

    Burdens & restrictions

    All risks which allow a third party to prevent the use of the insured property as intended due to restrictions imposed for their benefit.

    3

    Lack of rights

    All risks which impact on the inability to use third party land for the benefit of the insured property.

    2

    Lack of title

    All risks which impact on the ability to possess and grant a security over the insured property.

    1

    Obligations

    All risks preventing the insured from possessing or transacting the property because a third party may have a monetary interest over it.

    5

    Planning & structural risk

    All risks associated with imperfections in historic planning records or breaches and future challenges to planning permissions by judicial review.

    6

    Leasehold title

    All risks which relate to defective drafting of third-party competing interests which are linked to leasehold titles.

    7

    Title search

    All risks associated with adverse entries on missing or outdated or erroneous searches.

    8

    Third party rights

    All risks which grant third party rights to impose for specific purposes on the future use of the insured property.

    Benefits: The proposer is not required to delve into the validity or enforceability of the financial obligations but merely to identify that they exist.

    Proposal Requirement: The proposer will be required to detail the nature of the obligations and confirm that no approaches have been made in this regard.
    Benefits: Removes the requirement to define the title by exception to the insurer.

    Proposal Requirement:  The proposal form will steer the applicant towards the correct definition of the lack of title issue.
    Benefits: Ambiguities in lack of rights risk framing become irrelevant.

    Proposal Requirement: The proposal simply requires an acknowledgement that there is a risk which threatens the exercise of the asset.

    Benefits: The complex area of planning law need not be navigated with risks transferred to the insurer

    Proposal Requirement: A description of the historic breach, or, in the case of judicial review, details of the decision-making process is to be provided.

    Benefits: The complex nature of leasehold risks are encompassed without extensive diligence.

    Proposal Requirement: The proposer will be required to detail the supervening or insufficiency of the leasehold interest and that there has been no third-party challenges.
    Benefits: Transaction delays are avoided. Inherent risks of failure to instruct accurate or appropriate searches are eliminated.

    Proposal Requirement:  The proposer is required to detail what searches are missing or inadequate and the reasons for this.
    Benefits: All that is required is for the proposer to identify that there is an intervening third party right with no further diligence required.

    Proposal Requirement: Disclosure of third-party rights together with confirmation of how they are exercised or that they are not exercised.

    Our UK Imperfect Title policies are underwritten by AXA XL under XL Catlin Insurance Company UK Limited rated A+ (Stable) by AM Best and AA-(Stable) by S&P.

    Our Irish Imperfect Title policies are underwritten by AXA XL under XL Insurance Company SE rated A+ (Stable) by AM Best and AA-(Stable) by S&P.

    Our experts protect the buyer or the seller from future losses against hidden risks.

    Ben Baker, Chief Underwriting Officer

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