Legal Indemnities - Target Market Statement

What is the purpose of this product?

For real estate title indemnities - to protect and indemnify lenders and the owners of real estate from claims arising from defects in title.

For charitable donations - to protect either the donor or the donee of a donation made from funds left in client accounts of property managing agents regulated by RICS (Royal Institute of Chartered Surveyors) or legal firms regulated by the SRA (Solicitors Regulatory Authority).

For missing or lost share certificate - to indemnify the issuer of a replacement share certificate where the owner of the shares cannot find the original certificate in perpetuity.

For trust and probate - to protect and indemnify administrators / executors of a will from claims from certain parties upon the distribution of the estate assets.

What is the target market?

For real estate title indemnities - owners of, or any parties with an interest in, real estate lenders taking real estate as security.

For charitable donations - managing agents of properties regulated by RICS (Royal Institute of Chartered Surveyors), legal firms regulated by the SRA (Solicitors Regulatory Authority) and the recipient charities.

For missing or lost share certificate - shareholders who are unable to obtain replacement share certificates without satisfying the share administrator's need for an indemnity beforehand.

For trust and probate - primarily law firms who are acting for the administrators or beneficiaries of a deceased person’s estate.

What is the non-target market?

For real estate title indemnities - parties who do not own, or have no interest in, real estate and who are not lending upon security of real estate. Real estate outside of the UK.

For charitable donations - parties who are not managing agents of properties regulated by RICS (Royal Institute of Chartered Surveyors), are not legal firm regulated by the SRA (Solicitors Regulatory Authority) and are not the recipient charities. Any business which is not UK based.

For missing or lost share certificate - parties who do not own shares, where the issuer of the replacement certificate is not UK based.

For trust and probate - parties who are not executors and administrators of an estate. Any business which is not UK based.

How is the product distributed?

Distribution of the product is via insurance brokers, legal firms and in-house legal teams of direct real estate customers.

Does the product demonstrate fair value?

The outcome of the Fair Value Assessment (FVA) conducted in accordance with Zurich's published FVA methodology confirms that the product provides fair value. All products listed have all passed the Fair Value Assessment and are valid until 30/09/2026.