LONDON, May 13, 2015 /PRNewswire/ --
Donazione Sicura Enhancing Liquidity in Italian Property Markets in Unprecedented Lloyd's of London Programme.
Secure Legal Title and Besso Insurance Group announce the launch of Donazione Sicura, an insurance programme which mitigates a risk, never before covered by insurance, inherent in certain Italian real estate transactions.
The risk affects property donated for tax or succession planning purposes. The donation renders subsequent sales, purchases, and mortgage financing virtually impossible, thus limiting liquidity in the Italian property markets.
To address this historical problem, Secure Legal Title and Besso developed a novel insurance product and a specialized technology platform. Working with Titolo Sicuro and Aon in Genoa, they created an underwriting template, delivered via a Lloyd's advanced web platform, to issue policies directly and securely to clients against on-line payments.
Nick Kennedy of Besso explained that: "Donazione Sicura is unique in providing an insurance product enabling the sale and purchase of over a million Italian properties. This is a classic example of London Market expertise and creativity being harnessed to cover a previously uninsurable risk."
British Insurance Awards Finalist
For their work on Donazione Sicura, Secure Legal Title and Besso have been shortlisted as a Finalist for the 2015 British Insurance Awards "Underwriting Initiative of the Year". Joel Peck, CEO of Secure Legal Title, said: "We are pleased that our unprecedented insurance program has been recognized in this very important award category."
About Secure Legal Title and Besso
Based in London, Secure Legal Title Limited, an appointed representative of a Lloyd's broker, provides legal indemnities and title insurance in the UK and throughout the EU, as well as title insurance in Mexico through Armour Secure Insurance S.A. de C.V. http://www.SecureLegalTitle.com
Besso is a long-established Lloyd's broker, based in London. http://www.besso.co.uk
SOURCE Secure Legal Title Limited