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Exclusively flats,

it’s our policy

Authorised and Regulated by the Financial Conduct Authority FRN 305998 Residentsline is a trading name of Residentsline Limited Registered Office: 29 Waterloo Road, Wolverhampton WV1 4DJ Registered in England & Wales CRN 3874789

0800 281 235

info@residentsline.co.uk


About Us Residentsline's sole focus has always been flats insurance. Today, more than 20 years on Residentsline has grown to become recognised as understanding the intricacies, risks and requirements that are unique to the residen al flats market. Our team of professional, friendly staff are dedicated to delivering superior products with excellent service, to make life easier for you.

♦ Manage claims quickly and efficiently; ♦ Provide property portals designed to assist Residen al Management Companies and Property Managing Agents; ♦ Invest in staff and systems to ensure consistently great service.

♦ Work closely with Property Managing Agents to ensure their clients receive the best cover at the best price;

As an Affiliate member of ARMA (Associa on of Residen al Managing Agents) and with Managing Director, Belinda Thorpe, as an honorary consultant for the FPRA (Federa on of Private Residents Associa ons) we are able to keep up to date with our customer's insurance concerns and needs.

♦ Provide Freeholders and Residen al Management Companies with the confidence they need to sa sfy their resident's requirements;

Our dedica on to understanding our market is evidenced by a healthy reten on rate together with a number of customers that have been with us since the 90's.

♦ Offer market leading insurance cover by providing exclusively enhanced policies;

With a close knit team, a name you can trust and your call answered in person, we know we have a business people want and enjoy dealing with.

♦ Deliver protec on from our panel of preferred Insurers;

Exclusively flats, it’s our policy.

Residentsline prides itself on its ability to:


Section OneInsured Property - “the buildings” Most policies offer cover against similar events such as fire, flood, escape of water, subsidence, malicious damage and storm damage. These types of event are commonplace and in general most people can relate to them and can think of examples, o en from personal experience, where claims have been paid following an unfortunate incident. However, have you considered other unfortunate incidents that could happen at your block?

■ Following a lengthy spell of torren al rain, the RMC office on the ground floor of your riverside block is flooded to a depth of four feet. The water damages all of your tenancy agreements contained in a filing cabinet making them illegible. If this happens, our Residentsline policy provides up to £25,000 towards expenses that you incur in colla ng informa on, preparing or rewri ng records, books of account, Electronic Data and other valuable papers directly rela ng to the Insured property. ■ One of the ground-floor residents informs you that their pa o is covered in raw sewage. Once again your resident will be expec ng you to act quickly to clear the problem. But what has caused the sewage to seep onto the pa o? Our Residentsline policy will pay for the reasonable exploratory costs that you incur in loca ng the source of the leak. We will also pay up to £500 for the repair or replacement of the defec ve part . We will also pay up to £500 to rec fy contamina on or pollu on damage to land caused by the escape of the sewage.

What if fly ppers dumped a load of waste at the entrance to your underground car park? What if a flood necessitated the re-wri ng of all your tenancy and lessee records? What if an underground pipe was leaking and the exploratory costs being charged by the contractors were unforeseen and prohibi ve? What if the Police closed off access to your property to protect a crime scene resul ng in an urgent need to rehouse all the residents? What if a flood at your property meant your residents needed urgent alterna ve accommoda on? Most policies provide this cover, but what about their cherished family pet?

■ Several of the proper es in your block become uninhabitable following water damage caused by a burst pipe in one of the upper floor flats. Your policy provides temporary accommoda on cover up to 35% of your Buildings sec on sum insured and you are able to arrange alterna ve accommoda on for those affected by the water damage. However two of the residents are cat owners and the temporary accommoda on has a strict "no pets" rule. Our Residentsline policy will pay up to £500 per flat for the costs that you incur in boarding pets if the pet owner's flat is rendered uninhabitable and the temporary accommoda on does not allow pets.

Would your current Insurance Policy pay out?

Would your current Insurance Policy pay out?

■ Consider waking to discover that in the middle of the night, to find fly ppers have dumped a load of waste at the entrance to your underground car park, preven ng residents from using their cars to get to work in the morning. Your residents will be expec ng you to act quickly and will be looking to you sort the problem out. But what should you do? Our Residentsline policy provides protec on up to £25,000 for reasonable costs and expenses that you incur in the clearing and removal of any property illegally dumped at your premises.

Residentsline's policy, underwri en by a panel of Insurers is recognised to provide the widest standard cover normally available, designed specifically with the complexi es of Flats in mind.

Exclusively flats, it’s our policy.


Section Two Lessees’ Fixtures and Improvements

♦ Valua on calcula ons could be inadequate unless each flat is inspected by the valuer ♦ Flat owners' improvements may have been made a er a valua on has been conducted

Background Some mes individual flat owners undertake extensive renova ons or refurbishments to their own flat. These refurbishments can be quite expensive and significantly increase the value of that individual flat. Depending on the nature and ming of a building valua on, such improvements are at risk of being inadequately insured.

Individual flat owners could suffer a shor all if the Buildings sum insured is prematurely exhausted. Consequently the Residents' Management Company could become liable to legal proceedings from lessees, due to its statutory responsibility to insure the building for full reinstatement costs.

Lessee's fixtures and improvements cover is designed to protect each lessee who own a flat or apartment containing improvements beyond its original specifica on.

A scenario: Insurance on the buildings of a block of flats is renewed with a Sum Insured based upon a valua on already 2 years old.

What is the cover? Our policy provides cover up to £50,000 per flat against accidental loss or damage to flat owners' fixtures and improvements once the Sum Insured under the Buildings sec on is exhausted.

Some six months later the penthouse changes hands and its new owner undertakes extensive renova ons. The owner complies with all relevant building and local authority regula ons and obtains the consent of the Residents' Management Company (RMC) and the other lessees, before proceeding with the improvements.

The term "Lessee's Fixtures and Improvements" means any item or structure installed that is permanently a ached to or fixed within a flat so as to become legally part of it, including any improvements made to an exis ng fixture.

The renova ons are commensurate with an "up market" apartment and include a handmade kitchen and marble addi ons to the bathroom and spa at a total cost of £45,000.

The cover is subject to the same terms, condi ons and exclusions as Sec on 1 – Insured Property. Why is the cover needed? It is a requirement of most leases that the buildings are insured for their replacement value and by defini on this includes Lessee's Fixtures & Improvements. At any given me the building sum insured could prove to be inadequate, par cularly if a total loss occurs because: ♦ Valua ons are calculated with an assump on that all flats are of the same standard and quality

Some weeks a er comple on the whole block suffers a serious fire necessita ng total rebuild. However the Sum Insured does not allow for reinstatement of any lessee's improvements. Consequently, there is a significant shor all in the Sum Insured compared with the full replacement cost and all flats are rebuilt to the same internal specifica on. The penthouse owner issues proceedings against the RMC and successfully claims the value of improvements beyond the "standard" specifica on now provided. Lessee's Fixtures and Improvements cover provides protection against such a scenario

Exclusively flats, it’s our policy.


Section ThreeTerrorism Insurance Damage to your block of flats by an act of terrorism may seem unlikely BUT if it happened who would provide the funds for rebuilding your property? A typical Residen al Buildings Insurance policy issued in the UK includes cover for damage caused by fire or explosion. But what if the fire or explosion was a result of an act of terrorism? We can all recall the vivid scenes of destruc on that followed the July 7th London bombings. Did you know that if a similar event were to happen close to your block of flats the resultant or collateral damage would not be covered unless you had arranged Terrorism Insurance! As a responsible Officer of your Residents' Management Company you have a duty to protect lessees and residents from unforeseen events wherever possible. By adding Terrorism Insurance when arranging or renewing your Residen al Buildings Insurance you are also protec ng your own and your fellow flat owners personal assets.

When deciding whether to take out Terrorism Insurance, you should also check your Lease to see whether it is a requirement. The Council of Mortgage Lenders also states Insurance needs to be arranged as required by your mortgage lender, therefore if any of the flats in your block have a mortgage you should always check to see whether Terrorism Insurance is an obliga on. Terrorism Insurance is arranged as an addi on to your Residen al Buildings Insurance and is normally added at the me of policy incep on or when your policy renews. Cover is provided against any accidental loss or damage to the Insured property caused by an occasion or happening through any act of any person ac ng on behalf or in connec on with any organisa on with ac vi es directed towards the overthrowing of any government by force or violence. Can you afford to take the risk of leaving your residents uninsured….and homeless.

Call us today for a quotation on 0800 281235.

Exclusively flats, it’s our policy.


Section Four - Property Owner’s Liability

Section Five - Employers’ Liability

A typical residen al flats insurance policy includes cover for your liability as a property owner or management company. Indemnity limits of £5 million are commonplace and should provide adequate protec on against a wide array of claims from "third par es", for example slips, trips and falls – but what if something more serious happens?

If your Residents' Management Associa on is a Limited Company you are required by law to have in place Employers' Liability insurance – even if you have no paid employees.

Consider the effect of a malfunc oning air condi oning unit leading to the spread of Legionella. Or a faulty central hea ng boiler leaking carbon monoxide.

If proven negligent, your RMC could be required to compensate directors, officers, paid employees, labour only self employed contractors to whom you supply materials and control their method of working in the event of their injury or death emana ng from their "employment".

Our Residentsline policy provides a limit of £10 million to cover your Residents' Management Company's legal liability, providing extra peace of mind against unforeseen incidents.

Our Residentsline policy provides for a £10 million limit of indemnity in respect of your Management Associa on's legal liability to employees, as defined in law.

Exclusively flats, it’s our policy.


Section Six Directors’ and Officers’ Insurance Those who serve on a Residents' Management Company (RMC) commi ee o en do so in a very selfless way. They work with the best interests of the individual residents at heart but are o en unaware of the inherent risks that they assume from the moment that they join the board of their RMC. Nowhere to hide Just imagine for a moment how you would feel if, whilst fulfilling your du es as an RMC director, you are faced with the very real prospect of having all of your personal assets at risk. The poten al for error that can lead to a legal ac on is very real. When there is financial loss, situa ons can change and RMC directors can very quickly be confronted with having to defend legal ac on brought against them and/or other commi ee members. Ul mately you can be drawn into an ac on brought by any lessee where they feel you or the RMC has let them down. Being caught up in a legal ac on may appear to be unfair when you have been managing your block to help your neighbours, however, in these situa ons o en you are le with li le choice other than to defend your posi on which could be a fairly complex and lengthy affair so substan al legal costs can and do mount up. Who would pay these defence costs? Simple solutions – the benefits of education and the correct level of protection How many RMC officers are aware of the full extent of their poten al exposure? Part of the issue and the solu on is educa on. The poten al for legal ac on against individual RMC officers exists because errors, misstatements, omission, neglect and breach of duty do happen in real life. Consider this from a different perspec ve - could you imagine anyone agreeing to be a Company Director without (some form of) adequate protec on in the form of Directors and Officers Liability insurance? Would you even consider si ng on the board of BP a er witnessing the company incur a mul -billion dollar oil spill, without first ensuring that you have the correct insurance in place to protect you as an officer or director? Hidden risks for RMC members Directors and Officers liability cover is available and most specialist flats insurance policies will offer this as an op onal extension to the policy, subject to an addi onal premium.

Each poten al claim is judged on the material facts behind the par cular incident. But the point to remember is that RMC officers whether legally liable, or not, are exposed to the poten al risk of li ga on and legal costs. Consider a typical scenario where RMC officers are delegated defined responsibili es, including insurance ma ers, for their block of flats. During its annual insurance review, the Commi ee takes the decision to change their exis ng insurance arrangements and obtains cover with a different provider. The new policy includes a reduced £5 million Property Owners Liability cover. The reason behind the change was to save money and the new policy was chosen because the premium on offer was cheaper than their exis ng insurance cover. At a party in one of the flats an over-crowded balcony collapses, seriously injuring several people. A claim against the Insurance Company is incepted with a poten al cost of £7.25 million, however the RMC only has £5 million Property Owners Liability cover in place. The individual flat owners are distressed as this amount is well below the poten al cost of the claim. The flat owners believe that the RMC was wrong to reduce the cover and they bring legal ac on against the responsible director to make up the shor all. Or perhapsAn officer pays a contractor to fix their roof with RMC funds before the works have started. Subsequently, the contractor absconds with the money, never to be seen again. There is an exposure to poten al legal ac on being brought by the individual flat owners following the loss of RMC funds due to a mistake made by an RMC member. FinallyConsider the poten al exposure that may exist if an RMC officer fails to assess the number and extent of defects within a building, compounded by the fact that the RMC officer fails to lodge a claim within the me constraints of the NHBC framework. Funds required to rec fy defects are no longer available but could have been covered by the NHBC guarantee. Once again there is an exposure to poten al legal ac on being brought by the individual flat owners due to an error on the part of an RMC officer. In certain situa ons life may appear to be very unfair for RMC officers. However a significant part of the solu on is to ensure RMC officers understand and are educated in their du es and responsibili es. It also makes good business sense to put protec on in place for when things do go wrong. By arranging Directors & Officers Liability Insurance with Residentsline, means everyone can sleep a li le easier.

Exclusively flats, it’s our policy.


Section Seven Fidelity Guarantee

Section Eight Voluntary Workers

As a director of a Residents' Management Company (RMC), you place your trust and faith in your Commi ee members and employees. But what if that trust and faith is broken and one of your Commi ee members or an employee has been commi ng fraud without your knowledge?

It is quite common for a Residents' Management Company to enlist the assistance of unpaid voluntary workers to perform daily tasks around the property such as cleaning windows and communal areas or gardening.

Service charge collec ons for managing your block could be at risk if your RMC is the unwi ng vic m of fraud by an employee or fellow Commi ee member. Your RMC will have to bear the loss and collect addi onal service charges. By selec ng Fidelity Guarantee cover our Residentsline policy will include protec on against fraudulent misappropria on of your funds. Op ons are available up to a £200,000 limit.

The Voluntary Workers sec on of our Residentsline policy provides benefits in the event that the Voluntary Worker sustains bodily injury whilst working on your behalf. Benefits are payable to the voluntary worker or that person's estate should the worst happen and includes payment in respect of temporary or total disablement including loss of one or both hands and loss of sight in one or both eyes. Weekly benefits are payable for a maximum of 104 weeks.

Exclusively flats, it’s our policy.


Legal Expenses

Plus...

With limited means Residents' Management Companies very o en do not have funds available for legal fees to defend, prosecute or further a dispute.

Residentsline is also pleased to offer the following portals:

Legal Expenses cover, underwri en by DAS Legal Expenses Insurance Company Limited, will provide indemnity in respect of an Insured Incident arising in connec on with the ac vi es of the Residents' Management Company. Insured Incidents include: ♦ Legal defence ♦ Property protec on ♦ Commercial & residen al leased or let property disputes ♦ Repossession ♦ Bodily injury

ManageYourBlock is a web based tool that offers access to your proper es details at the touch of a bu on. We understand that you have a lot to keep on top of; ManageYourBlock brings all this informa on together easily and intui vely. It is designed to make your life easier saving me by offering a fast and efficient interface to connect you and your block. ManageYourBlock is a FREE benefit for all Residentsline Policyholders – www.residentsline.co.uk

♦ Contract disputes ♦ Debt recovery ♦ Employment disputes and compensa on awards ♦ Service occupancy ♦ Statutory licence protec on ♦ Tax protec on There is a limit of Insurer's liability of £250,000.

Property Management Portal is a web based tool which offers Property Managing Agents access to all their proper es details and insurance documents at a touch of a bu on. For a no-obliga on demonstra on of ManageYourBlock or Property Management Portal contact us on 0800 281235


Insurance Terms Explained “All risks” - Wider cover than provided by a "defined perils" based policy. Includes any loss or damage apart from exclusions stated in the policy.

Index linking- Where the Sum Insured is automa cally adjusted in line with general rises in costs.

Average - A policy condi on that requires the amount of a claim payment to be reduced propor onately if the Policyholder has not insured his property for the full value or replacement cost.

Insurable Interest For an insurance contract to be valid the Policyholder must have an interest in the insured item to the extent that its death, damage or destruc on would cause him loss, both at the me the policy is effected and also at the me of the loss.

Contract works - A form of insurance providing "all risks" cover, subject to certain excep ons, in respect of building works while in the course of construc on and cover for materials, equipment, plant and temporary buildings. Also known as Contractors All Risks.

IPT (Insurance Premium Tax) - A tax payable on general insurance premiums.

Contribution - The principle of Contribu on applies where property or liability is insured under more than one insurance policy and the Insurers concerned share the cost of any claim.

Loss Adjuster - An independent claims expert, who acts as a consultant to Insurers in assessing the extent and value of a claim. Although paid by the Insurer, a member of the Chartered Ins tute of Loss Adjusters is required to act with the claimant's legi mate interests in mind.

Day 1 uplift - An insurance policy feature which protects against a possible shor all in claim payment due to infla on increasing the Reinstatement Value between incep on (or renewal) and incident date. A percentage limit of between 10 and 50% normally applies. (.eg. If the building Declared Value at incep on or renewal is £1,000,00 and the relevant rate of infla on to a claim 9 months later is 5%, then the Declared Value at the me of loss is £1,050,000.) Declared value - The Insured's assessment of the cost of rebuilding the property insured at the me of incep on of a policy or its renewal. This value, otherwise known as Reinstatement Costs, should also include costs of professional fees, debris removal and compliance with European and Public Authority regula ons. Delegated authority - The giving of consent by an Insurer to act on its behalf. This may be in respect of Underwri ng and document issue and/or claims se lement. Excess - The first part of a claim which is paid by the Policyholder. The Insurer pays amounts in "excess" of this first amount. An excess may be compulsory (i.e. imposed by the Insurer) or voluntary (i.e. accepted by the Policyholder in return for a premium reduc on). Exclusion - A clause in an insurance policy which limits the scope of cover. Indemnity - The placing of the Insured in as near the same posi on a er an insured loss as applied immediately prior to the event.

Loss Assessor - A person who acts for the claimant in nego a ng se lement of a claim in return for a fee paid by the claimant. Proximate cause - The immediate or effec ve cause of an event, not necessarily the one closest in me to the loss, having been defined in the court case of Pawsey v Sco sh Union and Na onal in 1907 as " the ac ve, efficient cause that sets in mo on a train of events which brings about a result, without the interven on of any force started and working ac vely from a new and independent source.” Reinstatement a) making good. Where insured property is damaged it is usual for se lement to be effected through payment of a sum of money, but a policy will o en give either the Insured or the Insurer the op on to restore or reinstate the property. b) restora on of the original Sum Insured if the policy reduces the principal amount by the amount of claims or if the policy has lapsed. Subrogation - In Contracts of Indemnity, the right of an Insurer to stand in the place of the Insured and exercise all rights and remedies available to the Insured, whether already enforced or not. Sum insured - The maximum amount payable in the event of a claim under an insurance policy.

Exclusively flats, it’s our policy.


Contact Us

Social Media

Claims: 0345 257 0365 (Local rate)

h ps://www.facebook.com/chu.line.9

♦ Between the hours of 9.00am and 5.30pm weekdays, calls are answered by Dedicated Claims Handlers.

@Residentsline

♦ Claim forms are generally not required - Straight forward incidents agreed on the phone. Suppor ng documents will be requested where necessary.

h ps://www.linkedin.com/company/2578915 @manageyrblock

♦ In the case of serious loss, intermediate arrangements will be made for a skilled loss adjuster to visit your property.

@PropMp

♦ Claims line available 24 hours a day, 7 days a week. ♦ 70% of all claims se led within 3 working days. ♦ you can also email us at: claims@residentsline.co.uk

Administration: 0800 281 235 (Local rate) We are available from 8.45am to 5.30pm Monday - Thursday, and Friday 8.45am to 5.00pm for quota ons, exis ng policy ma ers and other enquiries. You can also email us at: info@residentsline.co.uk

Exclusively flats, it’s our policy.


Exclusively flats, it’s our policy.

Authorised and Regulated by the Financial Conduct Authority FRN 305998 Residentsline is a trading name of Residentsline Limited Registered Office: 29 Waterloo Road, Wolverhampton WV1 4DJ Registered in England & Wales CRN 3874789

0800 281 235

info@residentsline.co.uk

Residentsline exclusively flats its our policy  

Exclusively flats....its our policy