QUICK ANSWER
What differentiates property agency and management businesses?
Sales, lettings, property management, block management and related services create different responsibilities. The proposal should show the service mix, portfolio size, client profile, handling of deposits or client money where relevant, property visits, employees, offices, cyber dependence and contractual obligations.
PROPOSAL INFORMATION
Describe the portfolio and responsibilities
- Sales, lettings and management services.
- Turnover or fee income and number/value of properties handled.
- Residential, commercial or mixed property profile.
- Client-money or deposit responsibilities where applicable.
- Property inspections, maintenance coordination and contractor appointment.
- Staff, offices, remote working and cyber systems.
- Complaints, claims, incidents or known circumstances.
CONTROLS
Evidence the controls behind the service
Useful evidence includes engagement terms, staff supervision, property inspection records, contractor due diligence, client-money controls where relevant, complaint handling, cyber access controls, payment-verification procedures and documented escalation of incidents or potential claims.
Return to Occupations or see the Commercial Insurance Proposal Guide.
Describe the business before thinking about the policy
DIBNI acts as an introducer. Any advice, recommendation, placement or policy terms remain matters for the receiving insurance professional and insurer.