Judicial Review Insurance – What is a Judicial Review?
Judicial Review is the legal process by which members of the public may challenge the lawfulness of a decision made by a Public Authority.
This includes decisions made by Local Planning Authorities, therefore allowing local residents to ask a High Court Judge to consider the legality of the Planning Consent.
Applications for a Judicial Review will be accepted by the High Court up to 6 weeks after planning has been granted.
The court lodgement fee required for a Judicial Review is just £100 and if successful the planning will be overturned.
Why take out a Judicial Review Insurance policy?
Property development is not only risky, but timing is crucial for the success of any development. Holding a consented site for a further 6 weeks while you wait for a Judicial Review challenge which may or may not happen can be costly and therefore Judicial Review Insurance will enable a developer to commence work on site as soon as planning is granted.
A Judicial Review Insurance Policy benefits the developer by creating financial certainty, reduces risk and will enable key delivery targets to be met. The peace of mind Judicial Review Insurance gives is also essential for bank funding and investment.