Previously, we have addressed the topic of indemnity periods and I expressed my concern on the number of questions I have had come through from Insurance Brokers and Underwriters where the indemnity period for a client was being reduced in this time of increasing rates. Another issue which has resurfaced as a result of these rate increases is the move to reduce the cover from […]
Building Replacement Value v Purchase Price
I received the following question from a broker: Hi Allan, I have been through your website to see if there is a reference I can use to provide to clients outlining the difference between Building Replacement Value and Purchase price and why you shouldn’t set the Purchase price as the Building Sum Insured. I’m fully aware of the difference and reason but I often have […]