Instant Issue FAQs
If these popular FAQ’s do not provide you with the answers you are searching for, please contact us directly on the details provided to the right of this page, we would be happy to help.
GCS are the market leader of ‘Instant Issue’ legal indemnity insurance since we pioneered the concept of it in 1998. In addition, we have a highly experienced and friendly team of underwriters who specialise in conveyancing risks, each boasting an average of more than ten years’ experience.
Our policies are easy and quick to issue, contain market leading cover and are competitively priced. Fundamentally, we are committed to offering you, a conveyancing professional, a stress free service whether you choose to use our Online, Pack or Bespoke service.
To be authorised to issue legal indemnity insurance from GCS, you must:
- be a practising solicitor, licensed conveyancer or legal executive
- either be regulated by your professional body (the Law Society or Council for Licensed Conveyancers) or directly authorised by the Financial Conduct Authority to carry out insurance mediation (this requirement applies whenever advice is given in relation to legal indemnity policies in general and is not exclusive to GCS).
‘Instant Issue’ policies are available in both our Pack and Online. They can be issued directly by you, giving your clients’ instant cover, without the need for referrals or delays. Our Instant Issue facility remains the quickest and easiest way to arrange cover.
‘Bespoke’ policies are arranged for you directly by our team of experienced and friendly underwriters. Bespoke policies cover risk types that are not contained in our Pack or Online and/or do not meet the Instant Issue risk acceptance criteria.
Both Pack and Online come under what we call ‘Instant Issue’ policies. They both offer the same high level of cover at the same competitive premiums. The only difference between the two is that the policies Online are electronically produced and Pack policies are contained in a smart folder.
We pride ourselves on making it as easy as possible for you to arrange cover instantly from our Pack, Online or through our Bespoke service. For immediate cover of existing ‘Residential’ or ‘Commercial’ properties you may choose one of our Instant Issue policies, accessible in a smart folder or electronically through our GCS Online facility.
Should you require a Bespoke policy, simply call, fax or email your enquiry to us. You can speak directly to one of our experienced underwriters, who will assess the risk and advise you of the options available to you and your client.
Our range of policies provide cover for both ‘Residential’ and ‘Commercial’ properties situated in England and Wales.
Whether you issue a policy from your Pack or Online, all our policies are live documents. They are activated as soon as the Policy Schedule is completed and signed by a solicitor, legal-conveyancer or legal executive – no cover notes, no referral, and no delay!
The limit of indemnity is entirely at your discretion, therefore it doesn’t have to be the full market value. We find that many policies are issued with the limit of indemnity reflecting the current sale or purchase price of the property. Each conveyancer should however contact the mortgage lender or refer to the CML Handbook (found at: https://www.cml.org.uk) to ascertain the level of cover required.
The answer is yes, depending on the policy type. If it’s an Instant Issue policy, you may be able to increase its limit by issuing an ‘Indemnity Top-up’ policy. You can find this policy Online and in section 22 of your Pack.
It doesn’t even matter if the current policy was issued many years before or by a different firm of solicitors, as long as the original was a GCS policy and is listed as suitable for top-up in the instructions set out in section 22, you can self-issue.
We don’t ask for statutory declarations to support the issue of either of these policies.
Instead, for ‘Absence of easement’ policies, we ask that the conveyancer obtains the seller’s confirmation that use of access and/or services has been enjoyed without dispute for at least the last 12 months, prior to policy issue.
For ‘Insolvency Act’ cover, all we need is confirmation that a clear bankruptcy search is obtained against the donor.
When policies are placed through either Online or Bespoke, the discounts are applied automatically. For Pack discounts, you will find details on the relevant policy dividers. For further information visit our ‘Discounts‘ page.