Client money protection insurance for letting agents and professionals
About Client Money Protect
Client Money Protect is a client money protection membership scheme designed to protect client money held by property agents and professionals. The member’s clients are protected in the event that the member misappropriates the client money held in the course of running their business. Client Money Protect is the quickest, simplest and cheapest way for you to obtain client money protection for your clients.
Providing your clients with security
All property agents and professionals can apply to become members. Joining Client Money Protection provides your clients with security that the money you hold on their behalf is protected in the event of theft by the business owners. It is also now a legal requirement to prominently display whether you have client money protection or not. The industry is campaigning for client money protection to be mandatory for all letting agents so by joining Client Money Protect you are showing your commitment to the best interests of your clients.
To be eligible to join and remain a member of Client Money Protect you will need the following:
- A segregated client money bank account
- Membership of an external consumer redress scheme
- Professional indemnity insurance
- To agree to abide by the Terms and Conditions of Client Money Protect