Resilience Insurance’s Post

Did you know that 80% of UK properties are underinsured? Without an accurate Building Reinstatement Cost Assessment (BRCA), your insurance might not fully cover the cost to rebuild your property. At Anderton Gables, we understand how critical it is to get this right. From ensuring your assets are fully protected to avoiding unnecessary costs, a BRCA is essential for property owners, landlords, and managers. Learn more about why BRCAs matter from Richard Chandler in this latest blog: https://lnkd.in/eK9jSzWB #property #builtonpurpose #buildingconsultancy #brcas

Insurance for construction projects can be a tricky topic - join us on 18th July at this free event where we discuss recent market trends and things to consider when drafting construction insurance provisions

Strata committees organize Annual General Meetings each year to decide on upcoming large fees and expenses for the building. 💸💵🏢 The committee will propose budgets for upcoming insurance, maintenance and repairs needed to keep the property in good shape.📈🔧🚧 Residents need to join the AGM to have a say and vote on the proposed fees and budgets. ✅👍Going to these meetings and participating in the decision making is important.😌 AGM notices should be sent at least 14 days prior giving enough time for residents to arrange attending.💻📨 Proper and detailed minutes of the meeting should be recorded and sent to residents after the AGM for transparency.📝 Participate in your strata AGM to keep fees reasonable and get value for money spent on maintaining the property. #stratafees #agm #residentrights #stratalife #australia

Rain- in September- in Manchester- never!! Interestingly, I just came across research from Towergate Insurance in 2016 on how bad weather affects the business of SMEs across the UK. Despite our climate, it seems many of the country’s micro, small and medium-sized enterprises (SMEs) are ill-prepared for the affects of bad weather. 66% of SMEs reported lost revenue due to bad weather and almost a third (31%) suffered weather-related damage to property over the last five years, it is surprising to find that nearly half (44%) have no business continuity plan in place to ensure they can continue trading. #ukeconomy #weather #manchester

Thames Water is fighting to avoid #restructuring or being taken into special administration. Its Chief Executive Chris Weston has maintained that Thames can still #raise the billions of pounds in equity that it needs to deliver on its turnaround plan to fix #chronic #leaks and sewage spills, despite not having the backing of its shareholders. Thames Water, is a British private utility company responsible for the #water #supply and waste water treatment in most of Greater London, Luton, the Thames Valley, Surrey, Gloucestershire, north Wiltshire, far west Kent, and some other parts of England; like other water companies, it has a monopoly in the regions it serves. A US insurance firm with at least $2 billion in exposure to Thames Water Utilities Finance Plc is working with #bondholders and advisers to protect their interests ahead of potential debt talks, according to people familiar with the matter. Assured Guaranty Ltd. and a group of noteholders have tapped lawyers at Kirkland & Ellis LLP and bankers at PJT Partners Inc., the people said, talking on the condition of anonymity. The insurer works with issuers of debt and provides insurance on notes that can mitigate losses for bondholders. The US firm had an overall #exposure of $2.1 billion-equivalent to Thames Water as of the end of 2023, according to its annual report. It was the second-largest exposure for the company outside of the US. Photo: Thames Water Headquarters in Reading Read more here: https://lnkd.in/eChUsByR #ThamesWater #Crisis #Insurance #FinancialLoss #Creditors #HairCuts

We're thrilled to announce the launch of our Builders Risk Program in partnership with USA and Lloyd’s of London Insurers! 🏗️ This market-leading program offers unmatched capacity and flexibility for large-frame projects, even those with catastrophe exposures. Whether it's superior construction or renovation projects, we've got you covered! Check out the program details below 👇 #insurance #buildersrisk #insurancebrokers #specialtyinsurance

The "My Safe Florida Condo" pilot program has met its maximum capacity for accepting grant funding applications, marking a temporary pause in this crucial aspect of the program. Since its inception, the program has been dedicated to providing essential support to qualifying condominium associations as they strive to fortify their properties against the destructive forces of hurricanes. This assistance is offered through a combination of cost-free inspections and financial aid aimed at enhancing wind mitigation measures within the buildings. Enacted during the 2024 legislative session, the Florida Legislature allocated a substantial $30 million budget to back the "My Safe Florida Condo" initiative. The parallels drawn between this program and the highly successful "My Safe Florida Home" initiative illustrate its potential for sustainable impact and its capacity to address a pressing need in safeguarding Florida's properties. The overwhelming response and subsequent full capacity of the program reflect its importance in assisting condominium associations in bolstering their properties against hurricanes. This development also underscores the proactive approach taken by the state in supporting property resilience and addressing insurance cost management in the context of natural disasters. https://lnkd.in/eJRdtzcu

The "My Safe Florida Condo" pilot program has met its maximum capacity for accepting grant funding applications, marking a temporary pause in this crucial aspect of the program. Since its inception, the program has been dedicated to providing essential support to qualifying condominium associations as they strive to fortify their properties against the destructive forces of hurricanes. This assistance is offered through a combination of cost-free inspections and financial aid aimed at enhancing wind mitigation measures within the buildings. Enacted during the 2024 legislative session, the Florida Legislature allocated a substantial $30 million budget to back the "My Safe Florida Condo" initiative. The parallels drawn between this program and the highly successful "My Safe Florida Home" initiative illustrate its potential for sustainable impact and its capacity to address a pressing need in safeguarding Florida's properties. The overwhelming response and subsequent full capacity of the program reflect its importance in assisting condominium associations in bolstering their properties against hurricanes. This development also underscores the proactive approach taken by the state in supporting property resilience and addressing insurance cost management in the context of natural disasters. https://lnkd.in/eJRdtzcu

Premium Strata has been featured in the May edition of The #NSW #Strata Magazine! https://lnkd.in/eB4BTen In this edition, you'll find: 🚰 Navigating Water Ingress in Strata Properties. By Lannock Strata Finance 👨💼 Our project manager has never inspected the site. By Edwina Feilen & Bruce McKenzie, Sedgwick 😰 Dysfunctional committees, legal cost claims and the impact on insurance premiums. By Tyrone Shandiman, Strata Insurance Solutions 🤝 Meeting quorum at the community association AGM. By Leanne Habib, Premium Strata 📈 Have inflation fluctuations caused more cases of over or underinsurance? By Zac Gleeson, GQS 💺 Can the number of positions on a committee be amended at a GM? By Allison Benson, Kerin Benson Lawyers 🖌 I’d like to paint my front fire safety door, including the metal auto-closer. By Rob Broadhead, 2020 Fire Protection ⛱ Can I install an umbrella in my courtyard? By Leanne Habib, Premium Strata And more! LookUpStrata Pty Ltd – Australia’s Premier #Property #Blog for Strata Living, has been providing reliable strata information to lot owners, strata managers, and other strata professionals since 2013. Over the years, LookUpStrata has grown into a nationally recognised source of interesting and trustworthy strata insights. #StrataManagement #StrataLiving #StrataNews #StrataLaw #RealEstate #PropertyManagement #SydneyStrata #StrataAdvice #StrataReform

🏢 Property insurance is undergoing significant changes, and it’s reshaping the commercial real estate market. 📈 Rising premiums, driven by climate change 🌍 and natural disasters 🌪️, are pushing property owners to rethink how they protect their assets and manage risk. 📊 A recent study by the Urban Land Institute and Heitman highlights stricter underwriting, reduced coverage, and creative strategies like layered insurance and self-insurance. For investors, adaptation is 🔑—whether it’s diversifying portfolios geographically 🌎 or investing in more resilient building materials 🏗️.   These trends remind us of the importance of staying informed in an evolving market. 💡 How are you navigating these challenges in your real estate journey? Let’s discuss! 💬 #CommercialRealEstate #InsuranceTrends #RealEstateInvesting