Lost Share certificate Indemnity cover

Huggy_Bear

Good morning, I've contacted the registar to replace a lost share certificate and they have quoted an admin fee of £47 and nearly £300 to cover the indemity. What is that last bit for? Seem quite a lot of money. The letter mentions I can get my own cover from a bank, insurance company etc. How would I go about this please (and is it likely to be less expensive)

Thank you

MovingForwards

I presume it's quite a large shareholding to be £300 as the ones I've previously dealt with were on a tiered scale, very small holding cheap (worked out more than the admin fee before indemnity), small holding (got a few quid back), medium holding (was worth doing).

Only ever went directly with the company, but that's because it was always probate cases and easier for an audit trail etc.

Do you want to share more details so people can advise? Eg shareholding amount, the company its for (or type of company ie electric, pharmacy etc) and the company who quoted you.

Huggy_Bear

MovingForwards said:

Do you want to share more details so people can advise? Eg shareholding amount, the company its for (or type of company ie electric, pharmacy etc) and the company who quoted you.

Thank you for reply, they are shares in a utility company

727 missing and the amount on today's value is around £8000

MovingForwards

Huggy_Bear said:

MovingForwards said:

Do you want to share more details so people can advise? Eg shareholding amount, the company its for (or type of company ie electric, pharmacy etc) and the company who quoted you.

Thank you for reply, they are shares in a utility company

727 missing and the amount on today's value is around £8000

That's why the indemnity is the cost it is, £8k would be classed as a sizable amount.

If it was me, and I had the fee / indemnity money in the bank, as it has to be paid before they cash in / transfer, I would just go with them to save faffing around.

Hopefully some members can offer suggestions about other indemnity insurance options, to give you other options.