Property Insurance

Following the recent launch of our block insurance policy for all new schemes, we are pleased to announce that with effect from 1st July 2020 we will be rolling this service out to all existing SIPP and SSAS clients.

By way of background, Talbot and Muir act as trustee on the majority of our client’s pension schemes and part of this role is to ensure that we act in the best interests of the scheme members. This duty of care includes ensuring that all scheme assets are secure and, where property is involved, adequately insured.

We have therefore appointed Erskine Murray Insurance Brokers to arrange, oversee and administer our scheme to ensure that all properties are comprehensively insured to key minimum standards. This bespoke insurance scheme has been put together specifically for SIPP and SSAS clients and is underwritten by RSA Insurance PLC who are an A-rated insurer. The minimum requirements have been designed to remove the risk of a property being inadvertently under-insured and the policy wording has been benchmarked against other insurance products in the market.

The scheme is non-mandatory. If they prefer, clients can still arrange their own property insurance as long as this meets our minimum requirements. For those choosing not to join our block insurance policy, we will charge £150 VAT p.a. to cover the due diligence necessary to check that the client’s alternative policy provides adequate cover.


Moving forward, clients will be contacted initially [insert timeframe] to notify them of the TM scheme.  Approximately 6-8 weeks before a property’s insurance renewal date we will contact the client again  to offer them the opportunity to join our block insurance scheme at the forthcoming renewal date. Clients will be provided with a simple application form for completion and return which will be sent on to Erskine Murray who, in turn, will then provide a quote and will contact the client directly.

For those clients that decline the invitation to join the scheme, Erskine Murray will review the terms of the client’s alternative policy to ensure it provides adequate cover and protects the interests of the members and their beneficiaries. We will inform clients at that point that if they decline to join the scheme (or fail to engage with us on this) there will be a fee of £150 p.a.

For more information about the benefits of Talbot and Muir’s block insurance scheme, please refer to the: Talbot and Muir 10 Reasons Why Document