Performance

Strategic objective 1: Service First

Indemnity

This year, £3,928,258 was paid for 894 claims, compared with £2,661,998 for 799 claims last year.

The largest payment was in excess of £500,000 (including legal fees). This was paid in respect of loss arising from an error in the result of a Search of the Index Map, which failed to disclose that a strip of land was already registered. The strip was then included in a new title, which resulted in the land being included in two titles. The second title was rectified to remove the strip of land. Although only a narrow piece of land, the strip had a high value because it was required to give access to a proposed development on adjoining land. The party from whose title the land was removed was entitled to indemnity for this high value under paragraph 1(1)(a) of Schedule 8 of the Land Registration Act 2002.

We have recovered £56,235 under our statutory rights of recourse, compared with £5,950 last year.