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Commercial Property: Too little, too late

Commercial Property: Too little, too late - commercial property - United Kingdom

Property underinsurance creates a real headache for insurers and their clients, often not discovered until a claim is made. So, where does the buck stop for accurate valuations?

Since it first hit, the recession has understandably been used as a scapegoat for many of the problems that have arisen in the insurance industry.

Be it the proliferation of crash-for-cash scams, or the lack of sprinklers in properties when a fire occurs, commentators are all too willing to lay blame at the door of the recession as the reason why policyholders are either defrauding insurers to claim money, or not forking out in the first place on things that could, ultimately, save them money.

And with the widespread problem of underinsurance in the commercial property space still unresolved, one would expect that the ‘r' word might feature heavily as the root cause.

Indeed, an analysis by Cadogan Keelan Westall in February of this year demonstrated that the amount most property owners need to insure is on the increase as commercial property values and rebuild costs rise.

Read more: http://www.postonline.co.uk/post/feature/2187419/commercial-property-little-late#ixzz1z0NjLebl 
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