The Different Types Of Risk and Insurance Offered by LFC (Legacy Funding Corporation)

Legacy Funding Corporation (LFC) has more than 40 years of experience in providing sound advice to a wide range of businesses. Moreover, they specialise in legal and charity insurance, audits, and charity funding, with an exhaustive experience in risk management and insurance.

The Different Types Of Risk and Insurance Offered by LFC (Legacy Funding Corporation)

(I) Legal Insurance

Legal insurance offered by LFC will help in protecting your assets and liabilities by providing a wide range of policies that are designed to meet specific and exclusive needs of the policyholders. You can complete your business transactions in a more efficient way when you offer your clients bespoke legal indemnity insurance. LFC risk and insurance consultants offer a wide range of policies that effectively suit the legal sector.

Legal insurance includes the following:

Residential property insurance

Private client insurance

Company commercial insurance

(a) Residential Property Insurance

When it comes to residential property insurance policies, there are two types: Defective Title and Restrictive Covenant.

Defective title insurance is utilized where a title is deemed defective, and there is potential for a third party in establishing or attempting to establish an estate right title or interest. This is highly adverse or derogatory to the property owner’s’ title to their property.

A seller, on the other hand, imposes restrictive covenants on properties that are sold to prevent potential buyers from utilizing it in a way that the seller feels may harm the property that has been retained.

(b) Private Client Insurance

Private client insurance offered by LFC risk and insurance includes Executor Insurance, Unoccupied Household Insurance, Missing Beneficiary Insurance, and Trustee Indemnity.

(c) Company Commercial Insurance

In statistical terms, expenses related to commercial insurance are second only to payroll and costs related to employee benefits. It is crucial for Directors to ensure that assets and liabilities are effectively insured. From environmental insurance to key man insurance, regardless of your needs, you can be rest assured that LFC provides extensive coverage. In addition, they provide expert advice with regard to your needs and requirements.

(II) Charity Insurance

LFC risk and insurance consultants offer a wide array of policies to suit the not-for-profit sector. From Trustee Indemnity Cover to Prize Insurance, they offer expert advice customized to your needs.

Some of the types of insurance falling under this segment include Trustee Indemnity, Household Insurance, Prize Indemnity Insurance, Executor Insurance, and Travel Insurance.

(a) Trustee Indemnity

This type of insurance covers the liability of the personal trustee as well as liabilities of officers, voluntary workers, and employees, arising due to errors or omissions that they make during the administration and management of the organisation.

(b) Household Insurance

LFC’s household insurance is intended to protect the property along with its contents while the executor finalises the estate. A charity can also arrange this type of household policy during that specific period on a contingent basis.

(c) Prize Indemnity Insurance

This insurance permits companies and not-for-profit organisations of different sizes to provide prizes of high value for a fixed price of an insurance premium, which is generally a fraction of the cost of the prize. Prize competitions may be based on skills, chance, or response rates.

(d) Executor Insurance

Any individual playing the role of Executor of a specific estate, executing the final wishes of a family member or friend, may be exposed personally to unlimited liability. This insurance can protect executors from this potential risk.

(e) Travel Insurance

A UK resident’s love of travel has increased tremendously over the last four decades. However, before you reach out for that sunscreen, you need the right travel insurance. There are two types of travel insurance: imaired life travel and charity travel.

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