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Home Information Packs: Liability

Volume 464: debated on Wednesday 10 October 2007

To ask the Secretary of State for Communities and Local Government what guidance her Department has produced on the (a) minimum and (b) maximum liability to be paid out on an insurance policy underwriting the accuracy and completeness of a personal search, in a Home Information Pack, not provided by a solicitor. (155856)

The HIPs (No. 2) Regulations 2007 introduce, for the first time, stringent requirements for all those compiling property searches, including requirements on insurance cover for third parties and liability in the event of financial loss.

The Procedural Guidance which supports the HIPs (No. 2) Regulations 2007 sets out that all those compiling property searches must have suitable insurance arrangements in place with an insurer authorised under the Financial Services and Markets Act 2000.