Tag Archives: Property Owners Insurance
The Property Insurance Market Update Part 1
The Property Insurance Market Update Part 1 Over the past three years, the UK Property Insurance market has faced significant challenges, driven by the cost of materials, labour shortage, inflation and a change in reinsurance (capacity and cost for insurance on large losses) which has resulted in double digit rate increases. In 2023,…
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The widening gap of property underinsurance
The widening gap of property underinsurance Concerns grow as an increasing number of UK properties are now underinsured. With the gap between property rebuild costs and their sums insured widening at an alarming rate. RebuildCostASSESSMENT.com has complied figures from their annual report on rebuild costs and has concluded, from almost 27,000 rebuild valuations…
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Are you Fully Aware of your Business’s Exposures?
Are you Fully Aware of your Business’s Exposures? Are you a business owner? Then, you need to know the different risks your business may face. These could be things like cyber threats, fire, floods, and other potential losses. These problems could cause financial loss, damage to your property, or even legal troubles. But don't worry,…
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Managing Escape of Water Risk in Residential Premises
Managing Escape of Water Risk in Residential Premises What do property owners and managers need to do? Within the residential setting, there is no one thing that will prevent an EoW loss. A loss is usually a culmination of several adverse actions / factors. Therefore, in order to reduce the likelihood and severity of an…
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Water, Water Everywhere: Escape of Water
The continuing rise in escape of water claims has been identified by the Association of British Insurers (ABI) as an area of focus for 2018. In 2016, escape of water contributed to over a quarter of all domestic property insurance claims, ranking above ‘weather’ and ‘fire and explosion’. Between January and September 2017, these claims…
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