Insurance brokerage Aon has rolled out a new warranty and indemnity insurance product to address the specific risks presented in the acquisition and disposal of real estate.
The Aon Real Estate Solution (ARES) was designed specifically for real estate transactions to achieve both a clean seller exit, as well as fulsome protection for buyers.
Its key features include lower premiums and deductibles, and coverage up to full purchase price for title warranties at market-competitive premiums. It also includes the ability to provide bespoke cover for identified exposures, stapled W&I insurance to support competitive auctions and portfolio asset sales, and speed of execution through streamlined underwriting approach.
“The key features of this product will enable sellers to achieve a clean exit from real estate investments, whilst at the same time providing buyers with customary deal protection,” said Sam Thomas, client director at Aon. “Recognising the extremely robust title system in the Australian and NZ market, we have been able to structure very efficient rates for title insurance at rates which have not been available through traditional W&I insurers.”
