Tag Archives: Property
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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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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Mothballed Construction Sites Part 1: Leaving the Site
Mothballed construction sites Part 1: Leaving the site This current situation opens up a host of new risks arising from the cessation of work, the biggest being an unoccupied property which presents a range of issues that must be addressed quickly. In this article, Ensurance provide advice on some new risks and offer some simple best-practice advice and…
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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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The insurance implications of Britain becoming a nation of fly-tippers
Britain’s landscape is becoming increasingly tainted by the blight of fly-tipping – an escalating issue which puts farmers and private landowners under particular strain and which has the potential to bring about their financial ruin. In June 2017, a House of Commons briefing paper recognised the scale of the criminal activity surrounding the illegal disposal…
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New minimum standards for energy efficiency in properties
In April 2018, the Minimum Energy Efficiency Standards (MEES) came into force in England and Wales. These regulations apply to both domestic and non-domestic rented properties, plus mixed-use developments, comprising both residential and commercial premises. Under MEES, it is now illegal for a landlord to let or renew a lease on a residential or commercial…
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Architectural Security – Designing out crime
If you have been considering a new home build or significant renovation of your property then it is likely that you will begin to seek the expert direction of architects, planners, builders and your insurance broker. In fact, many homeowners are reluctant to consider installing these security systems due to their unsightly nature. However, it…
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