The UK Association of Letting Agents has launched a deal with insurance firm Let Alliance to allow total loss client money protection to be offered through agents.
The association says this is an improvement on many existing schemes which set a cap on losses, and the deal comes in advance of the government’s intention to introduce compulsory CMP insurance this year.
The CMP available for UKALA members through the deal is not available elsewhere and the cover is comprehensive.
“It means that only UKALA agents will be able provide landlords and tenants with the assurance that their money is completely protected. We have started contacting UKALA members about the announcement with more detail about what it will mean for them” says Tim Clark, UKALA chairman.