Prague – Guarenty Group, in conjunction with AIM General Insurance, launched in Autumn 2011 the first residential Rental Income Guarantee for landlords in the Czech Republic and Central Europe. This new product enables residential landlords who suffer loss of income through tenant default to transfer the risk to the insurer. Several hundred landlords have already decided to protect their rental income and have taken out policies. Based on a similar product that has been successful on the UK and US markets, Rental Income Guarantee enables landlords to claim up to six month’s unpaid rent within a 12 month period, therefore greatly reducing the exposure to periods where income is lost due to tenants defaulting. Premiums are set at 5% ofContinue Reading