As About Peverel receives more information concerning service charge funds, we are more concerned that the service charge funds are not protected against fraud and that Peverel do not carry fraud indemnity insurance.
That means if funds are taken from service charge accounts, that should not be, either by accident or fraud, residents would only have the "Goodwill" of Peverel to make good those funds. This is not very reassuring for those that pay money into service charge accounts.
Of course if Peverel should ever answer as to the existence of any fraud protection insurance About Peverel will publish the details.
That said, since the price fixing scandal was a fraud against the service charge accounts, it is surprising that if such insurance exists a claim has not been made, and instead Peverel are relying on a "Goodwill" payment which is a fraction of the amount service charge accounts were defrauded of.
