Hi
The insurance company I use actually does offer insurance for Insolvency proceedings - they have two kinds one for the lender and one for the purchaser.
It covers the following (which I have copied and pasted from their policy schedule)
Cover is provided in the event of a claim or claims under Sections 339-342 and 421A of the Insolvency Act 1986 as
amended by the Insolvency Act 1994 and Section 12 of the Insolvency Act 2000 against:-
(i) loss sustained due to any resulting adverse difference in the market value of the insured’s interest in the
property.
(ii) any sum paid under any Court Order or with the Insurer’s written consent to protect the insured’s interest in the property.
(iii) all other costs and expenses incurred with the Insurer’s written consent.
property.
(iii) all other costs and expenses incurred with the Insurer’s written consent.
property.
(iii) all other costs and expenses incurred with the Insurer’s written consent.
property.
(iii) all other costs and expenses incurred with the Insurer’s written consent.
property.
(iii) all other costs and expenses incurred with the Insurer’s written consent.
property.
(iii) all other costs and expenses incurred with the Insurer’s written consent.
property.
(iii) all other costs and expenses incurred with the Insurer’s written consent.
Cover is provided in the event of a claim or claims under Sections 339-342 and 421A of the Insolvency Act 1986 as
amended by the Insolvency Act 1994 and Section 12 of the Insolvency Act 2000 against:-
(i) loss sustained due to any resulting adverse difference in the market value of the insured’s interest in the
property.
(ii) any sum paid under any Court Order or with the Insurer’s written consent to protect the insured’s interest in the property.
(iii) all other costs and expenses incurred with the Insurer’s written consent.
property.
(iii) all other costs and expenses incurred with the Insurer’s written consent.
property.
(iii) all other costs and expenses incurred with the Insurer’s written consent.
property.
(iii) all other costs and expenses incurred with the Insurer’s written consent.
property.
(iii) all other costs and expenses incurred with the Insurer’s written consent.
property.
(iii) all other costs and expenses incurred with the Insurer’s written consent.
property.
(iii) all other costs and expenses incurred with the Insurer’s written consent.
.
The Company is TitleSolv and its website can be found at www.titlesolv.com - click on "residential quote" and hover over "Insolvency Act" and that brings up the two options - one for lender only and one for the purchaser.
You can obtain a quote immediately and can store the quote until it is required. When you want the insurance to commence, you complete the details online then send a cheque for the premium and they send you the policy online. My company uses them for all our client's indemnity insurances and have not had a problem with them. You need to ensure a clear bankruptcy search is obtained before completion but any good Solicitor would do that anyway in a transfer at undervalue.
Sorry, I know it is too late for the current case under discussion but may help others in the future.....
Kind regards
DM