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residentiallettings
key appointment insurance
Kerry London
Lighthouse protects landlords
Following Guarantee claims were up by
increasing 20 per cent in the first quarter
win NALS
reports that of 2009 compared to the same
tenants period in 2008. January saw
are falling the biggest increase, with 43
into rental per cent more compared to the
contract
arrears as the recession bites, same month last year.
Lighthouse Property Services The policy includes a
is including 12 months’ Rent comprehensive credit check,
Guarantee insurance as financial reference, residential
standard within its private reference, affordability check
sector management packages. and Rent Guarantee insurance
Previously Lighthouse cover with no excess. As well
offered six months’ as covering rental payments
Advantage Rent Guarantee for up to a maximum of six
from HomeLet, the UK’s months the policy also covers
The National Approved Letting Scheme (NALS) has appointed Kerry largest tenant referencing all legal costs incurred in
London Professional Risks as its preferred provider for Professional and insurance provider, to evicting a tenant as a result of
Indemnity Insurance for its accredited firms. As part of efforts to secure landlords commencing new non-payment of rent up to a
some of the most competitive rates for its firms, NALS put its PI contract tenancy agreements with the maximum of £50,000.
out to tender in January 2009 and it was awarded to Kerry London. option of extending this to HomeLet MD John Boyle
“This is a great achievement for us and we are really pleased to have been 12 months for an additional said, “We are delighted to see
successful. We are looking forward to working with NALS and its firms £90. Private Lettings Manager that Lighthouse continues
across the UK,” said Jane Venning, Divisional Director, Kerry London Ltd. Simon Sewell (pictured) said, to support its landlords by
Caroline Pickering, NALS Chair, explained that ensuring firms have access “Now a full year’s HomeLet providing them with HomeLet
to the right professional provisions is key. cover is included within our insurance at a time when a
“Safeguards such as a comprehensive Professional Indemnity scheme costs at the start of new growing number of tenants
are essential to maintaining consumer confidence,” she said. “Kerry tenancy agreements subject to are defaulting on their rent
London presented us with an excellent proposition. We feel the scheme suitable references. payments. In 2008 HomeLet
is absolutely right for NALS firms. We also believe that access to this new “By extending this it will paid out £2.8 million in Rent
scheme is an additional benefit of NALS accreditation.” help us to ensure we provide Guarantee claims and this is
As a government recognised, independent regulatory organisation, NALS the maximum protection for money many landlords cannot
regulates lettings and management agents operating in the private our private sector landlords afford to lose.”
rented sector. The 1350 NALS firms will be able to take advantage of the at an affordable and
new PI scheme from 1 June. competitive rate.
www.propertydrum.com/
Kerry London’s bespoke scheme is based on their normal Full Civil According to HomeLet, Rent
articles/lighthouse
Liability policy with special
“This is a great
enhancements to meet the
specific requirements of letting
achievement for and managing agents. These
us and we are really
include Loss of Documents;
Estate Agents and Health and
pleased to have
Safety legislation; Awards by
been successful.
Ombudsmen; Pollution and
Asbestos and Dishonesty of
We are looking
Directors, Principles, Partners
and employees.
forward to working
Jane Venning said, “We work
with NALS and its
very closely with our clients
to give a complete support
members across
service with advice and strategy
assistance, rather than just
the UK.” processing transactions. We
also have special offerings for
NALS firms; the option to pay premiums over 10 months, interest free,
a dedicated response team for NALS firms and easily accessible claims
handling and compliance services.
“We have been arranging Professional Indemnity insurance for letting
agents for many years and already know many NALS firms. We are
confident that our service will provide everything the agent needs in
terms of PI.” There are also plans for further services to NALS firms that
will include insurances to cover Office Contents and Company Car Fleets.
Landlord and tenant insurances are also available for NALS firms’ clients.
www.propertydrum.com/articles/nalskerrylondon
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44 JUNE 2009 PrOPertYdrum
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