News & Events

Property insurance, dealing with under insurance and 15% + rate increases in 2022

We are delighted to have Alan Chandler present our next Insurance Infusion session on 20th January 2022 1-2pm. Book you place(s) now and pop it in your diary

This is FREE of charge to our clients.

Overview

A combination of higher materials and labour costs will mean insurers are likely to need increases and policyholders may be looking at rate increases of around 15% in 2022 on top of the 2021 increases!

Given the rebuild cost inflation is so high,  the already significant worry of property under insurance in the UK is going to get worse.

It is estimated that over 80% of policies have incorrect property sums insured and that is before the 2022 cost increases. This presentation looks at the major issue of under insurance in the UK property insurance market, why it is getting worse and how to help your clients avoid the under-insurance trap.

The presentation, delivered by Alan Chandler one of the UK’s most popular insurance presenters, will look at what clients need to take into when settling Buildings sums insured. Alan will explore why under insurance is so common, the effects of under insurance for the client and why under insurance is an increasing cause of Professional Indemnity claims against broker

Learning Objectives

Delegates will be able to:

  • Understand what needs to be taken into account in respect of setting Building Sums Insured.
  • Understand why property rebuild costs in the UK are increasing at 9% and why UK insurers still need rate strength on top of this.
  • Understand the effects of under insurance for clients and how to aid them in mitigating their exposure to under insurance

Date: 20th January 2022

Time: 1.00 – 2.00pm

Held: via Zoom

Cost: FREE OF CHARGE TO OUR CLIENTS

To Book:

  • Please note the maximum number of attendees is 3 per firm (if you need more then please let us know and we will let you know if we have any spare places due to cancellations)
  • We will not be sending you a booking form for the webinar as it is a FREE webinar. However, if you are unable to attend please let us know in advance so that we can offer your place to another person.
  • The webinar will be delivered via ZOOM and log in details will be sent in advance of the session. Please ensure you have the appropriate software/apps and login details before the session.

To book please contact Deborah@createsolutions.co.uk

Share this post


10th Jan 2022 FCA have issued policy Statement PS22/1 – FCA authorisation application fees – new structure

X