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  • Writer's

Tackle underinsurance before a claim, not after

Updated: May 3

PRESS RELEASE - Insurance, United Kingdom:

Brokers want a shift in focus from buildings sums insured being examined following a loss, to being independently assessed before a claim takes place.

Research carried out earlier this year at BIBA 2016 by new online rebuild costs assessment service also found that brokers want insurers to provide some kind of claims guarantee in the form of replacement cost cover or removal of the average clause, whenever a reliable independent rebuild cost assessment is carried out.

Trevor Smith of said: “We’ve been talking to brokers about buildings underinsurance throughout 2016. It’s become a hot topic because of the Insurance Act and the FCA’s thematic review and brokers appear to have a number of concerns. "Two things concern brokers most. Firstly, there are the implications in terms of ‘treating clients fairly’ in the event of a large claim and sums insured proving to be inadequate. And secondly, brokers are concerned by the lack of a simple solution to what is seen as an ongoing problem.” Trevor added: “What brokers want is for household and commercial policyholders to have access to a simple online service, which they can easily promote, and which provides low-cost desktop rebuild cost assessments from a RICS Registered Valuer.”

Through its new online portal, is offering desktop based assessments at a competitive price direct to household and commercial policyholders, with the option of on-site assessments as a premium service. One major insurer has already committed to removing the average clause whenever a rebuild cost assessment is carried out on commercial buildings by and sums insured are amended to fall in line with its findings. “This is a unique development and is one which brokers told us would be a game changer for them in terms of tackling underinsurance.”


1. is a service provided by Rebuild Cost Assessment Ltd.

2. Rebuild Cost Assessment Ltd is a RICS Registered Valuer and is a joint venture between RiskSTOP and Scott Brown Risk Management Surveyors (SBRMS), which provides rebuild cost assessments for commercial and household buildings in the UK.


Contact for all press enquiries, images and to arrange interviews is:

Johnny Thomson, Thomson Media Ltd

Tel: 020 3091 557

Mobile: 07970 759515



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