News
IUA TACKLES HIGH-RISE FIRE SAFETY RISKS WITH NEW MODEL INSURANCE CLAUSE
"The representative body hopes that its new clause will provide underwriters with ‘greater confidence to offer effective insurance solutions’ to firms that are working to remove dangerous cladding from high-rise buildings.
The International Underwriting Association (IUA) has published a new model insurance clause that covers fire safety risks."
(Insurance Times - September 2022)
FIRE SAFETY REFORM AND PI WITHDRAWAL CREATES ‘EXISTENTIAL MOMENT FOR THE INSURANCE INDUSTRY’
“Four years on from the Grenfell Tower fire, industry experts debate the draft Building Safety Bill and what has been done so far to address fire safety
Hikes in insurance premiums only add to the financial stress of the fire safety problems that were exposed after the Grenfell Tower fire in 2017, according to Neil O’Connor, director of building safety policy at the ABI and part of the Ministry of Housing Communities and Local Government (MHCLG).”
(Insurance Times - July 2021)
UK GOVERNMENT PUBLISHES LONG-AWAITED BUILDING SAFETY BILL
“Despite the bill being welcomed, insurance industry leaders highlight concerns for buildings under 18 metres tall as ‘fire does not respect arbitrary height limits’
The government published its Building Safety Bill yesterday (5 July 2021), aiming to create lasting change and a clear pathway for the future on how residential buildings should be constructed and maintained.”
(Insurance Times - July 2021)