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Lost share certificate indemnity
Set2see
Posts: 1 Newbie
I have lost a share certificate and the registrars are asking for a bank or insurance company indemnity. They didn’t offer to cover it for a cost themselves.
Has anyone found a company that offers cheap indemnity cover please? The banks don’t want to know.
TIA
Has anyone found a company that offers cheap indemnity cover please? The banks don’t want to know.
TIA
0
Comments
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I similarly misplaced a share certificate last year and needed an indemnity to get another one. The registrars (Asset Link..ex Capita I believe) wanted around £300 (for around £8k of shares). Like you I found the banks no longer did it (at least the ones I bank with..which is quite a few )
So I googled for alternatives and contacted the following firm - Portsoken - who sent me a figure which was slighter cheaper than the registrar (around £250 from memory). However the documents needed were more onerous and the timescales longer so, to their credit, even they said I was better going with the registrar even if it costs slightly more. However if your registrar won't issue the indemnity (which surprises me) then they might be worth a call. They seemed professional but obviously I haven't actually used them.0 -
Has anyone had any better luck with this? I am also facing a £300 charge, largely due to the indemnity insurance, which seems crazy.0
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It seems crazy to hold physical share certificates, so perhaps the two go together ?And not that crazy, I bet a fairly high proportion of people who "lost" a certificate actually sold the shares but forgot.0
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A good reason not to hold shares in paper certificate form. Has been no reason to do so for a very long time.drb01 said:Has anyone had any better luck with this? I am also facing a £300 charge, largely due to the indemnity insurance, which seems crazy.1 -
In this case there is a reason in that I get a rebate on fees so long as I keep them in certified form.Thrugelmir said:
A good reason not to hold shares in paper certificate form. Has been no reason to do so for a very long time.drb01 said:Has anyone had any better luck with this? I am also facing a £300 charge, largely due to the indemnity insurance, which seems crazy.
Any ideas anyone? I can't believe someone out there isn't offering cheaper indemnity insurance ..0
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