A UK based insurance broker is facing a legal claim for damages of “at least £3.5 million” after a fire revealed one of its commercial clients had been significantly underinsured, according to reports.

Legal news source Law360 said a waste management company based in the South West of England had filed a claim in the High Court against a Lloyd’s of London broker after “its main processing facility, including its factory, machin...

RebuildCostASSESSMENT.com has released up-to-date high-level data around inaccurate building sums insured in the UK.

The figures, which come from an overall sample of 8,863 domestic and commercial properties over the past 12 months, have been summarised in an infographic below, which you can also download here. 

Director Will Molland BSc MCIOB AssocRICS, who is also one of RebuildCostASSESSMENT.com’s Quality Control Assessors co...

Brokers helping their clients get their building sums insured right doesn’t have to be time-consuming or difficult. 

Place an order with us online, anywhere, anytime. Find out how with our quick explainer video.

If you don’t already have an online account set-up with us, click here. 

A leading broker has described RebuildCostASSESSMENT.com as a ‘fantastic initiative’ and is encouraging others to guide their clients towards more accurate building sums insured as a way of not only treating customers fairly, but to generate significant income.   

Specialist commercial property brokers Morrisons Insurance Solutions identified almost 100 million pounds worth of under and over insurance last year, and t...

One of the things people seem to get most confused about when it comes to setting building sums insured is whether or not to include VAT.

To help, we’ve put together a short 3 minute explainer video, which should help clear up some of the key questions.

Please let us know what you think of this animated video by commenting down below or by emailing info@rebuildcostassessment.com.

A growing number of insurance brokers believe underwriters should pay for, or at least contribute towards, a professional assessment of building sums insured in order to tackle the issue of underinsurance.

In a poll for this year’s BIBA conference, reinstatement valuation experts RebuildCostASSESSMENT.com asked almost 600 brokers to say who they believed should pay for rebuild cost assessments.

Unsurprisingly, just over 70% said...

More than a third of policyholders are using ‘market value’ to set their buildings sum insured and one in five ‘simply guess’ according to a new study.

Reinstatement valuation experts RebuildCostASSESSMENT.com asked 580 brokers to identify the source of building sums insured in the UK, in a poll timed to coincide with this year’s BIBA conference. 

More than a third (35%) said policyholders used the ‘market value’ - the amou...

A highly-experienced PI underwriter has warned that “a gentle uptick” in underinsurance related claims is highlighting a need for the insurance industry to do more to tackle the issue.

John Cross, Managing Director of Glemham Underwriting, is a specialist Professional Indemnity (PI) Underwriter with around 30 years experience working in both the composite and London markets. He set up Glemham in 2006 to offer PI and commercial...

Some people can be a little sceptical about desktop valuations. After all, how can you accurately assess a property without even being there?

“Desktops are still seen as quite new and innovative,” said Director Will Molland BSc MCIOB AssocRICS who is also one of RebuildCostASSESSMENT.com’s Quality Control Assessors. “Brokers and their clients certainly like how they’re low-cost and easy to deliver, but there are some who contin...

Having rapidly taken the lead in the property insurance valuation market, RebuildCostASSESSMENT.com is now investing in the talent of the future.

Although our high-tech and innovative approach has helped us become market leaders, RebuildCostASSESSMENT.com has also identified a significant skills shortage where a strong combination of surveying, real estate, customer relations and data-mining and interpretation skills are all ne...