Like so many of the best ideas, it’s the simple ones that stand out, and our streamlined online block insurance facility puts other schemes in the shade.
Legal indemnity block insurance is not a new idea; the concept has been around for a while, and the reason for its popularity is that a block scheme makes it easy to cover your clients instantly at pre-agreed terms without having to obtain separate quotes for each individual property. It’s perfect if you require the same type of policy on a substantial number of property transactions every month.
An online solution
However, many schemes currently available in the market are disorganised and haphazard in their administration and appear to give scant regard to the needs of solicitors and their clients. To us, it seemed to make sense that, with so many solicitors organising their day-today legal indemnity requirements online, they’d prefer to manage their block schemes this way too. So we spent a couple of years developing a simple yet innovative way to manage all elements of a block insurance scheme online.
Often, particularly where a block insurance scheme was instigated many years ago, conveyancers in a firm are unsure exactly what is covered, what the premiums are, and how the scheme works. With our system, the details of each scheme, including the full terms and a copy of the generic policy wording, are held online for you to view at any time.
We’ve also made it easy for you to add properties, either individually, in batches, or all at once. And our intelligent upload system can quickly highlight any potential errors, such as properties that have already been added to the scheme or where there is missing information.
If an error is flagged, an additional benefit is that you don’t have to immediately rectify it in order to continue with the upload. Simply proceed as you normally would, and all the properties containing errors will be saved on the site ready to be resolved at a time suitable to you. They are not added to your live statement until the errors are corrected.
Once a property has been uploaded, you can also generate a bespoke policy document for your client. This includes a policy schedule and full wording, including an Insurance Product Information Document (IPID), which is personalised for that property, and which will be available for you to view or send on to your client.
Payment is monthly and you’ll receive an invoice on the 14th day of the following month, showing all the properties added to your scheme in the previous month.
Benefits of online blocks, a quick glance
• Scheme details such as policy cover, premiums, terms & conditions etc accessible at all times
• Add properties to your scheme on an individual basis, or upload spreadsheets containing multiple properties
• Avoid adding a property to the same scheme twice thanks to our intelligent upload system
• Create a bespoke policy document tailored to the property consisting of a policy summary, schedule, and policy wording, each with its own IPID
• Find a property you’ve previously added to a scheme with our simple search facility
• Edit details of a property you’ve already added to a scheme, or remove it entirely (if a property has been invoiced, a credit will be added to the current live statement)
• View itemised live statements and previously issued invoices, detailing the properties uploaded and premium due
Join the blockbusters
If you’ve got an existing block scheme and you’re fed up with spending time resolving duplications, embarrassed to be issuing your client with a scrappy photocopy policy, or left in the dark about the overall terms and conditions, why not consider moving it to Countrywide? Our Business Development team would be happy to talk you through our online scheme in more detail, or give you a demonstration to prove just how simple it is.
Call us now on 01603 617617 and ask for Business Development – you won’t regret it.