Here at Recovery M2, we have an established process for taking our clients from early case assessment to recovery. A crucial part of this process involves understanding who has benefited from the secret profits and how that is illegal. To answer these crucial questions, we first need to obtain disclosure of documents and information relating to how the money may…
Secret
commissions recovery
With over 40 years’ experience in the real estate insurance sector, we’re truly experts at challenging managing agents to recover any secret commission added to our clients insurance policies
In short, a secret commission refers to the kickback received, often by a managing agent, in exchange for arranging an insurance policy on behalf of a landlord.
More specifically, the terms of commercial leases often nominate managing agents to arrange insurance on behalf of occupiers. Under these circumstances, managing agents can charge insurers hefty commissions in exchange for brokering policies, which can inflate the premiums charged by insurers by more than 50%.
Where such arrangements are not disclosed and approved by the occupier in advance (not to mention the impact of such arrangements on the premiums the occupier becomes obligated to pay), this constitutes a secret commission. And these arrangements are often illegal.
Secret Commissions cost policyholders tens of millions of pounds each year in the UK alone, but many are none the wiser.
How do we help?
With over 40 years’ experience in the real estate insurance sector, we’re truly experts at challenging managing agents and landlords on behalf of high-profile occupier clients (including the likes of Tesco and NCP) to recover millions of pounds of secret commission. Both retrospectively and in respect of future premiums.
In fact, we recovered more than £2 million last year alone from brokers and managing agents.
The process
We work on a no win no fee basis with large corporates and high-net-worth individuals that have single occupation of large buildings and property developments, paying premiums in excess of £100,000 per year (or £600,000 across a six-year period).
1 Evidence
If you meet our criteria, the first step is to get in touch with us and share any potentially relevant documents and evidence.
2 Investigation
We’ll then instigate an investigation (at no cost to you) and confirm whether we’re able to take on your case.
3 Recovery
If so, we’ll commence the recovery process – dealing with all the legals in-house – with a view to reaching a settlement that properly compensates you for both past and future secret commissions. We’ll then retain 40% or £100,000 plus VAT (whichever is higher), and you’ll keep the rest.
Start your claim today
Simply fill in the following form to begin the process of recovering any secret commissions
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