Considering the legal implications and regulatory framework under which Property Practitioners operate, they are required to provide skilled and accurate professional advice regarding property transactions to avoid any negligence or delictual claim arising against them.

LSG, in conjunction with Camargue Underwriting Managers (Pty) Ltd have created a professional indemnity cover Agent Sure that protects property practitioners from liability for the cost of defending negligence claims instituted against them from, inter alia, the provision of incorrect advise, listing property incorrectly, failing to disclose material defects in properties and misrepresentation or breach of contract.

 

Property Practitioners Professional Indemnity Insurance [PPPII]

  • Premium Table

    Revenue Per Annum Limit of R1m Annual Premium Limit of R1m Monthly Premium Limit of R2.5m Annual Premium Limit of R2.5m Monthly Premium Limit of R5m Annual Premium Limit of R5m Monthly Premium
    R1 – R500k 5,500 505 9,500 870 14,000 1,285
    R500k - R1m 6,000 550 10,000 915 14,500 1,330
    R1m - R1.5m 6,500 595 10,500 965 15,000 1,375
    R1.5m - R2m 7,000 642 11,000 1,010 15,500 1,420

    Excess: R10,000
    For revenue per annum in excess of R2m please refer to simon@lsginsurance.co.za  

    Extentions

    Cover First Amount Payable Limit of Indemnity
    Loss of Documents R25,000 5% of the main PI limit of indemnity maximum R500,000 in the aggregate
    Defamation (Libel and Slander) R10,000 R1,000,000 in the aggregate
    Statutory Defence Costs Nil R 250,000 in the aggregate
     

    Risk Management Services Included

    Service Benefit to Client
    Crisis Communication & PR Public relations support and media disaster management
    Legal Support  Contract vetting and management
    Private Arbitration Alternative options to costly litigation in commercial and employment disputes
  • Insured Person
  • Turnover
  • Residential Sales %Commercial Sales %Residential Rentals %Commercial Rentals %
  • 4. CLAIMS OR CIRCUMSTANCES THAT COULD LEAD TO A CLAIM
  • - Any claim/s being made or settled?
    - Any circumstance/s that could lead to a claim being reported to Insurers?
  • I hereby authorise Camargue Underwriting Managers (Pty) Ltd or its authorised administrator to debit my account with the agreed monthly Insurance premium and collection fee. I understand that should my payment not be received by Camargue Underwriting Managers (Pty) Ltd or its authorised administrator by the 15th, there is no Insurance cover from the 1st day of that month and the Insurance policy will be cancelled, unless prior arrangements have been made.
  • R0.00
  • Notice: Debits cannot be raised through FNB Savings, Master Card Holders or account numbers exceeding 13 digits
    • I/we declare that after proper enquiry the statements and particulars given above are true and that I/we have not miss-stated or suppressed any material fact.
    • I/we agree that this Proposal Form, together with any other material information supplied by me/us shall form the basis of any contract of insurance affected thereon.
    • I/we undertake to inform underwriters of any material alteration to these facts occurring before the completion of the contract.
    • I/We understand that submitting this electronic declaration form will from the basis of this contract.
    •  I/We understand that the Binding Fee included in the premium relates to services provided and hereby consent to such fee.
    • Insurance is not bound until accepted by insurers
    • Only property in South Africa
    • I/We understand that in order to provide you with insurance, we must process your personal information. We will share your personal information with other insurers, industry bodies, credit agencies and service providers. This includes information about your insurance, claims and premium payments. We do this to provide insurance services, prevent fraud, assess claims and conduct surveys. We will treat your personal information with caution and have put reasonable security measures in place to protect it. By electronically submitting this form, you agree to the processing and sharing of your personal information.
    Copy of policy wording available on request.

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