Definition : A person, persons or company who acquire a property in order to redevelop and sell without that property being occupied as a residence.
Additional Proposers can be added at the Confirm Details stage when placing the risk on cover.
The Building Sum Insured should allow for:
The Contents Sum Insured should represent the full replacement value of
contents belonging to the insured or for which they are legally
responsible. This sum insured excludes valuables.
If the property is a block of flats, please enter the total sum
insured for all flats.
You have signed the property over to an Agent who pay you a guaranteed income, whether the property is let or vacant.
Employers Liability is for YOUR employees working at the insured property and not for employees of companies you may employ to perform a service for you such as cleaning or gardening.
Where we arrange insurance wholly or mainly for purposes related to your trade, business or profession, you have a duty under The Insurance Act 2015 to make a fair presentation of the risk. This means that you must disclose every material circumstance which you and/or your senior management and/or anyone responsible for arranging your insurance know or ought to know. Alternatively, you must disclose sufficient information which would put the insurer on notice that it needs to make further enquires for the purpose of revealing those material circumstances. You are expected to carry out a reasonable search in order to make a fair representation of the risk and will be deemed to know what should reasonably have been revealed by the search. Your duty of fair representation applies at the start of the policy, at renewal and when any variation of the policy is arranged. If you fail to make a fair representation, the insurer may refuse to pay your claim or reduce the settlement amount, depending on the circumstances.
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