Good Practice Guide
24 July 2019
29 July 2019
Exploring the roles and responsibilities insurance brokers have when insuring a constuction project, from the materials used to how they are assembled.
The catastrophic fire at Grenfell Tower in 2017 was a catalytic event regarding the design and materials used in UK construction, particularly residential tower blocks. Building and fire safety regulations were revised in 2018, and a Building Safety Programme introduced, resulting in greater clarity for tests and assessments to be applied to construction materials used.
With this in mind, insurance brokers also need to be aware of safe and recommended construction materials used so that they can provide effective coverage for their clients. Rather than just covering any type of construction material, insurance brokers should also be able to recognise, at an appropriate level, whether the construction project will meet certain regulations and standards. Whilst not expected to be experts in design and architecture, there should at least be a basic understanding of approved and recommended materials so that construction projects can be insured responsibly.
This Good Practice Guide aims to help insurance brokers with ways of approaching how to provide coverage for a construction project. It examines the following:
- Building Regulations
- Building Ratings
- Fire safety
- Construction materials used
The more detail provided to an underwriter, the more thorough the coverage will be in the event of a claim.
This document is believed to be accurate but is not intended as a basis of knowledge upon which advice can be given. Neither the author (personal or corporate), the CII group, local institute or Society, or any of the officers or employees of those organisations accept any responsibility for any loss occasioned to any person acting or refraining from action as a result of the data or opinions included in this material. Opinions expressed are those of the author or authors and not necessarily those of the CII group, local institutes, or Societies.