Residential Management Liability Insurance provides protection for claims made against Residential Block Management Company Directors and Officers.
Claims usually arise in relation to damage to third-party property or injury to third-party persons, as a result of negligence relating to the property being managed.
With our access to a wide range of insurers Towergate can help find the right policy for you, regardless of the number of flats you have under management.
It’s also worth considering that, as a Director, you may be personally liable to defend any claims brought against you. Claims that could leave your personal assets, and even those of your spouse and heirs, immediately at risk.
Even if you are confident in your ability to assist in the management of a residential block, there is still a risk that you could be sued without having acted wrongly. In which case, you would still have to defend the claim. All of which can be costly without the right cover in place to protect you.
Who could sue you? And for what?
Employees, shareholders, your company, creditors, regulators, customers, competitors, government, or anyone else who feels that they have suffered a loss arising from a Director or Officer wrongly acting in their position, can potentially sue you.
Claims can be brought for a variety of reasons including:
Coronavirus (Covid-19) – Update for Towergate customers
· Update as at 16 March 2020
With the COVID-19 Coronavirus situation evolving daily, we want to reassure our customers and partners
that we are continuing to follow government guidance, and have been working for some time to prepare for all potential outcomes
for our business and to support clients and customers through this sustained period of uncertainty.
Towergate Insurance Brokers is currently operating business as usual, and we are working behind the scenes on a range of plans
to continue serving clients without interruption and ensure we are prepared, should guidance and advice change quickly.