Slaughter and May is advising DLUHC on the Government-backed professional indemnity insurance scheme for external wall system assessors

Slaughter and May is advising the Secretary of State for Levelling Up, Housing and Communities on the Government-backed professional indemnity insurance scheme for external wall system assessors (the “EWS1 PII Scheme”).

The EWS1 PII Scheme is set up in response to the significant shortage of insurance companies willing to provide professional indemnity cover to firms undertaking assessments of external wall systems in mid- and high-rise residential buildings, which is contributing to issues in certain segments of the property market with buyers unable to secure the necessary certification in order to secure a mortgage.

The EWS1 PII Scheme will be delivered by MGAM Limited through insurance provided by SCOR UK Company Limited, with Her Majesty’s Government providing reinsurance coverage to SCOR UK Company Limited.