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Savendale's Bonds of Caution have low premiums, with indemnity limits of up to £10million - amongst the highest on the market. Our application process is simple, enabling you to pass on a fast and efficient service to your clients.
Savendale offers solicitors a quicker, more straightforward and less expensive way to secure the assets and estates of your clients. We provide insurance services to more than 130 private client solicitors firms in Scotland.
Savendale is an approved supplier for the Law Society of Scotland 2021.
Savendale’s Bonds of Caution are underwritten by CLS Property Insight - a highly-experienced specialist provider of bonds. All Savendale Bonds of Caution and other Executry insurance products are underwritten by CLS PI on behalf of Great Lakes Insurance SE, a wholly owned subsidiary of the Munich Re group.
Due to an accident, a young man was declared the subject of a Guardianship and awarded a sum of damages in excess of £5m. The appointed solicitor approached us seeking a bond that would cover this high indemnity level, which could be issued easily and at the lowest possible cost.
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With the condition that the solicitor would remain responsible for the financial management of the Guardianship, we were able to issue the necessary bond quickly, via an easy process at a competitive price, despite the limit of indemnity required. After the first year, we reduced the premium for this case by 30%.
We were approached regarding the case of a daughter in full-time care who was the beneficiary of two trusts set up by her deceased parents. The solicitor dealing with the estate was concerned that, should the trusts be exhausted within 20 years, the local authority or other body responsible for the ongoing care of the daughter could apply to claim her Legal Rights in respect of the settlement of the estate.
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We were able to construct a bond to cover the period of 20 years, making provision for the effect of growth of the assets over that period.
Savendale exceeded my expectations and were extremely good to deal with, keeping my informed of the progress throughout. I was very impressed with both the cost of the premium and turnaround time for the Bond to be issued to us. I look forward to working with you and the team on other cases in the future.
Lisa Syme - Innes and McKay Ltd
When obtaining executry bonds of caution, we have always found the service of CLS/Savendale to be knowledgeable and efficient. The bond process is straightforward, allowing for significant time savings, and their experience has enabled cover to be provided even in more complex circumstances
Alan Roughead - McNabs Law