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A new company which provides a set of insurance products and services for private client solicitors through partnerships with key suppliers. The first products on offer are in partnership with CLS Property Insight and include Bonds of Caution, Missing Beneficiaries, Missing Wills, Early Distribution and Lost Share Certificates.
Savendale is an approved supplier for the Law Society of Scotland 2021.
CLS entered the Bonds of Caution market at the end of 2016 and now writes bonds for more than 150 solicitors across Scotland. It is now partnering with Savendale Insurance Services to increase its presence and respond to the needs of private client solicitors through its product range.
Please see the key Personal profiles
CLS Property Insight underwrites these bonds on behalf of Great Lakes Insurance, a wholly owned subsidiary of Munich Re, one of the largest insurance companies in the world, with a AA- rating with Standard & Poor. CLS is an approved supplier of the Law Society of Scotland and is also approved by the Office of the Public Guardian
All solicitors must be registered with the Financial Conduct Authority as an Exempt Professional Firm. If a solicitor does not appear on the Register, this is easily achieved via the Law Society of Scotland. Application forms are available here and should be completed and sent to:
Alternatively, solicitors can use the online system to apply for Executry Bonds and to self-issue Guardianship Bonds. Please request an access code from our team at: email@example.com
If you are using the online system to self-issue Guardianship Bonds, you will be able to complete the process via the system. For Executry Bonds and offline Guardianship Bonds, quotations are provided by email. The solicitor then arranges for the bond form to be signed – see bond forms here – and returned to CLS. Guardianship Bonds can be completed electronically but Executry Bonds – which require a wet signature – need to be signed and sent to:
CLS Property Insight Ltd
17 Kings Hill Avenue
Kent ME19 4UA
All enquiries are handled by the CLS team in Kent and a response will be made within 48 hours of an enquiry. If urgent, bonds can be issued within this time period. Typically, bonds are issued within one week.
There is a flat rate for all bonds up to £2m, with a minimum premium of £175 for Executry Bonds. There is no minimum premium for Guardianship Bonds. Bonds in excess of £2m are referred to underwriters and bespoke rates apply. The upper indemnity limit is £10m per bond.
An invoice is issued at the time of attachment of the bond and payment is made within 14 days by bank transfer.
Yes – by email to: firstname.lastname@example.org
Yes – this can be done at any time prior to signature of the bond form or by cancelling the existing bond and issuing a new one.