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Arla claims landlords may be missing out on essential cover following gi regulation

Landlords could be missing out on essential general insurance and protection pro-ducts for residential lettings because unregulated agents are not allowed to sell to them.

The Association of Retail Letting Agents is concerned that landlords who rely on residential letting agents to arrange house and contents insurance will not get cover if their agent is not regulated because they are classed as an introducer.

Under general insurance regulation, an introducer to products within the regime must be authorised by the FSA. Residential letting agents come within these rules.

Arla is particularly concerned that overseas landlords could be left short on cover as they often have no one other than their letting agent to deal with their UK affairs.

Arla media relations officer Malcolm Harrison says: “Particularly for the smaller companies, there is no time, nor the resources, to sign up to GI regulation. The whole thing has been put on the backburner.”

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