Wednesday, 10 May 2017

AmTrust Extends Rewards for Risk Management to Licenced Conveyancers

‘A’ rated insurance company AmTrust Europe Limited have extended their ground breaking agreement with legal software house Lexsure that links the use of risk mitigation software with lower expenditure on professional indemnity (PI) premiums for licensed conveyancers, a move that could be worth thousands of pounds for some conveyancing practices on the JLT/CLC Scheme.

Professional indemnity premiums are a great concern for licensed conveyancers, as they constitute one of the largest costs to the business aside from salaries.

Licensed conveyancers can now evidence their lower risk profile for conveyancing transactions by using Lexsure’s COMPLETIONmonitor software, an online checklist, tailor-made for conveyancers to reduce and eliminate errors and omissions.

Licensed conveyancing firms that reduce their risk profile by using COMPLETIONmonitor in the conveyancing process who insure with AmTrust can expect a per case savings on their PI renewals for each case completed with the software. Currently such a scheme is limited to 1-3 partner solicitor firms. Even for a small but active conveyancing practice, this could result in a savings of thousands of pounds. Alex Dyer, Head of Professional Indemnity at AmTrust Europe, said ‘We appreciate that the cost of PI insurance premiums has a great impact for licensed conveyancers. We believe it is right and fair to offer a financial reward to firms that empirically demonstrate risk mitigation by using COMPLETIONmonitor’. 


Note

AmTrust Europe Limited provides tailored insurance products and support services to partners, focusing on property, casualty, speciality risk, accident and health, legal and warranty insurance products.   

AmTrust Europe has been rated ‘A’ Excellent by A.M.Best.  The AmTrust Group is committed to disciplined underwriting focusing on niche products, low-hazard risks and serving the client’s needs.  

For further information regarding AmTrust Europe Limited please visit www.amtrustinternational.com.   All media enquiries please refer to Denise Johnson at denise.johnson@amtrustgroup.com  




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