Lost share certificate indemnity

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

Comments

  • Shedman
    Shedman Posts: 1,566 Forumite
    Tenth Anniversary 1,000 Posts Photogenic Name Dropper
    edited 26 February 2019 at 6:27PM
    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.
  • drb01
    drb01 Posts: 31 Forumite
    Part of the Furniture 10 Posts Combo Breaker
    Has anyone had any better luck with this? I am also facing a £300 charge, largely due to the indemnity insurance, which seems crazy. 
  • AnotherJoe
    AnotherJoe Posts: 19,622 Forumite
    10,000 Posts Fifth Anniversary Name Dropper Photogenic
    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. 
  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    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. 
    A good reason not to hold shares in paper certificate form. Has been no reason to do so for a very long time. 
  • drb01
    drb01 Posts: 31 Forumite
    Part of the Furniture 10 Posts Combo Breaker
    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. 
    A good reason not to hold shares in paper certificate form. Has been no reason to do so for a very long time. 
    In this case there is a reason in that I get a rebate on fees so long as I keep them in certified form.
    Any ideas anyone? I can't believe someone out there isn't offering cheaper indemnity insurance ..
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