X
etsos

Free trial Sign-up

Please leave your name and email and we'll be in contact shortly.

Name

Company

Contact Number

Email

Please complete the sum:        
37 + 2 =

Demands and Needs Statements, ETSOS can help

16th July 2013

Here at ETSOS we are always on the lookout for ways to offer our clients added benefits to thank them for their support. We rolled out the red carpet for leading compliance experts, Legal Eye to take a walk down our “insurance aisle” and have a look at what we offer.

Norman Denton, Legal Eye Associate, talks us through the importance of getting the basics right when it comes to title insurance: “Regulations require that as in the sale of any insurance product, a Demands and Needs Statement is issued to the consumer explaining the reason for the insurance and a cost and benefits analysis in terms of why this particular policy is being recommended.  Whilst some insurers will issue these alongside policies as with the ETSOS platform, if this is not the case then the Law Firm has to issue one of their own.

“Often we find in our work with firms that Fee Earners are unaware of this requirement.  So no statement is issued at all – even those from the insurer are simply held on client files.  This puts the Firm in breach of their regulatory obligations, open to challenge, and potentially, a regulatory penalty.”

ETSOS provides a free Demands and Needs statement when you order insurance through the platform. Simply login for seamless quotation and purchase to be instantly “on risk.”

Legal Eye work with law firms to optimise performance and ensure compliance with service level agreements and the code of conduct, supplying a documented and auditable proactive approach to risk management. For more information about a free document compliance review please contact Norman Denton (nd@legal-eye.co.uk)

The client and experts view...

  • thumb1
Latest newsspeech Bubble

5 days of FREE AML training

HMRC have revealed details about the fines it has levied on estate agents for AML non-compliance. To help estate agents stay the right side of regulation, Landmark are offering 5 days of FREE AML training for a limited time.  (more…)

1/2 Day AML/CPR Courses for Estate Agents

Helping you stay the right side of regulation

Landmark and Michael Stephen Day of Integra Property Services host a  FREE 1/2 day training course on 27th & 28th March in Manchester and Milton Keynes. (more…)

Blog 3: Implementing your risk assessment

The Money Laundering Regulations require estate agents to risk assess their business relationships and apply an appropriate level of investigation to ensure that they understand who their customer is, and why they are involved in the transaction. (more…)

Blog 2: What are HMRC Looking for?

The Money Laundering Regulations require estate agents to risk assess their business relationships and apply an appropriate level of investigation to ensure that they understand who their customer is, and why they are involved in the transaction. (more…)

Blog 1: What is the risk?

The Money Laundering Regulations require estate agents to risk assess their business relationships and apply an appropriate level of investigation to ensure that they understand who their customer is, and why they are involved in the transaction. (more…)

divider
newsletter sign-up

Sign up for our e-newsletter

Name
Company
Email Address
trialTop

trial sign-up

Click the Apply button opposite to use our software on a trial basis...

trialBottom
  • etsosnews

  • etsosnews

  • Linkedin Twitter Facebook
    This site uses cookies. Find out more about this site’s cookies.