We are insurance experts and provide a wide range of tailor made legal indemnity and insurance cover to assist solicitors’ clients, executors, trustees and administrators – anywhere in the United Kingdom.
We have over 30 years of experience and have amassed a great deal of specialist knowledge in this sector known collectively as probate insurance, executors insurance or trust and probate insurance.
These probate insurances are invaluable if you are a person who has been appointed as the executor, trustee or administrator of someone’s will. Or you may be a wills and probate solicitor and have clients who are appointing family members and friends as executors, trustees or administrators to their will.
If you are an executor you will have been appointed as the deceased’s personal representative. If you are an administrator you will have been appointed by the Probate Office. It is very worthwhile to consider the implications of carrying out the deceased persons wishes and if necessary take out the appropriate insurance.
These executors insurance policies including missing will insurance, lost share certificate insurance, missing beneficiary insurance can be purchased by individuals or via their solicitor who will be able to discuss the possibilities and responsibilities associated with being given the task of dealing with someone’s will when they have passed away.
The cover we provide is always tailor-made to the individual requirements of the deceased person’s estate and will often include a need to insure an Unoccupied Building.
Unoccupied Building Insurance for a Property Under Probate
If you need insurance for a property under probate the majority of ‘normal’ household insurers are not designed to cover unoccupied properties whatsoever. If they are prepared to provide any cover at all for a house under probate that is empty, it is often extremely limited and extremely expensive. Prizm Solutions has access to several different policies which provide bespoke cover and can be extended to provide insurance against a far wider selection of perils, even including escape of water, malicious damage and theft.
We are also able to offer a number of specialist Legal Indemnity covers including (but not limited to);
Missing Will Insurance
This is a specialist policy designed to protect the executor, administrator or trustee in the event that post distribution of the estate, a missing will comes to light which affects the distribution of the estate.
Lost Share Certificate Insurance
If a Share Certificate has been lost or mislaid, an indemnity will often be required from an insurance company to enable duplicate documents to be issued.
Missing Beneficiary Insurance
This is a probate insurance policy designed to provide cover in the event that after the distribution of a deceased person’s estate, a missing or unknown beneficiary comes forward claiming part or all of the estate.
Lost Life Insurance
This insurance is typically required in the event of a policy having been lost or mislaid and an indemnity is required in order to surrender or claim the policy.
Lost Title Deeds
Another specialist form of insurance designed to provide an indemnity in the event that the title deeds to a property have been lost or destroyed. Insurance cover is provided in the event of a dispute or challenge to the ownership.
No Section 27 Notice
This form of insurance policy is designed to protect the executor, trustee or administrator in the event that an estate is distributed without issuing a Section 27 Notice and a missing or unknown beneficiary comes forward claiming part of the estate.
Early Distribution Insurance
This is another insurance policy designed to protect the executor, trustee or administrator in the event that an estate is distributed without waiting for the expiry of the appropriate period under the provision of the Inheritance (Provision for Family and Dependents) Act 1975.
What makes Prizm Solutions different from most brokers is that in most cases we don’t take a commission from the insurance companies for placing the business with them. Instead, we prefer to work on a fee basis so that our earnings are transparent which we feel is more ethical.
Please click here to arrange a call back so we can discuss your requirements and help you make an informed decision regarding this or any other insurance matter. Or email us if you would like a quotation.
Would you like a quote or to find out more?
We’re happy to give you a call back, fill in the form below and we will be in touch a.s.a.p