Kate Thorp
Manager - Executor & Inheritance Protection and Senior Underwriter @Dual Asset
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WORK HISTORY
Manager - Executor & Inheritance Protection and Senior Underwriter @Dual Asset
DUAL Asset was formed in 2013 by a group of likeminded, innovative professionals to pioneer changes and improve the way the traditional legal indemnity and title insurance market worked. Since then, the team has grown substantially and includes insurance professionals, property experts and qualified solicitors to ensure we provide the best possible solutions and service to our clients. Kate manages DUAL Asset\'s probate/executor team. From tailored solutions and contentious estates cases, to comprehensive insurance, DUAL Asset is re-thinking estate and inheritance insurance. Our policies can cover a wide range of risks that can affect the administration of an estate and provide protection for administrators, executors, charities, trustees, beneficiaries and their legal representatives. Policies can provide peace of mind and certainty for beneficiaries and will pay out for proven claims, which, in a worst case scenario, could mean paying out the whole value of the estate again to the aggrieved party. Also pre-court settlements and defence costs for those cases which need defending. This is without recourse to innocent beneficiaries who have already received inheritance and their legal representatives. Solicitors and professionals take on significant responsibilities and potential liabilities during the estate administration process. With an ever increasing litigious society, even the most diligent of professionals and their clients may face claims from known or unknown persons or organisations. A proactive approach could protect and reduce the risk to the personal representatives, their legal representatives and the beneficiaries.
EDUCATION
University of Worcester
Bachelor of Science (BS), Geography
ABOUT KATE THORP
DUAL Asset can provide insurance solutions to help you distribute difficult estates. This cover provides protection against legal pitfalls and uncertainties, which allows the distribution of an estate to move forward quickly and safely. They have created tailored and innovative solutions to address even the most contentious cases. Our policies protect and pay claims, which in a worst case scenario could mean paying out the whole value of the estate again, to an aggrieved party. The policy will also pay defence costs for those cases which need defending, as well as legal costs incurred. This is without recourse to innocent beneficiaries, who have already inherited, and their legal representatives. Executor and Inheritance insurance is not a direct alternative to PI insurance – but this is an area of law where potentially a lawyer can be deemed as “negligent”, not by intent, but because of the complexities involved in dealing with an estate. In the case of a claim, the solicitor’s liability may move from the PI provider to an Executor and Inheritance policy. What is Executor & Inheritance Insurance? • Insurance to help the distribution of an estate move forward, without the need to go to court or reserve part or all of the estate. This avoids the need for a costly and lengthy legal process • Insurance protects Executors, Administrators and Beneficiaries in perpetuity and their Legal Advisors • Compliments good legal services, not replaces them (cover can only be considered where a professional is involved in administering the estate). Generally used where a lawyer has done everything possible, but a problem still prevents the estate administration What can it cover? DUAL Asset provide a range of covers for specific known risks such as missing beneficiaries, missing will, Inheritance Act 1975 (early distribution,) challenges to the will, historic tax risks, among many more. DUAL Asset can also provide a comprehensive policy which is used as precautionary “wrapper” cover where there are no specific concerns or issues but complete peace of mind is sought. Policy covers claims/challenges such as an unknown will or later dated will appears, charity exerts a claim, ID Fraud, amongst 12 risks. DUAL Asset can insure estates in the UK, Ireland and the EEA. For worldwide estates, please enquiry with the underwriter.
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