Scheduled Time: 12th February 2014 at 3PM.Duration: 45 minutes.
By way of case studies of buildings, Lorna will take you on a whistle-stop tour of 12 common ways to spot ‘the likely suspects’ of where underinsurance is sure to be found.
It is the insured’s responsibility to set the buildings sum insured. But how do they know if the buildings insurance valuation is correct?
Experience suggests that brokers are asked to advise and their clients seek help from inappropriate web based information. Neither is best practice and the former is a sure route to litigation if the sum insured is not accurate. Even if the insured has built the property themselves, the figure is unlikely to be the correct basis to set the insurance policy.
The aim of the session is to help insurance professionals highlight cases where a buildings insurance valuations should be an integral part of the risk management strategy. It will broaden the audience’s knowledge so that the conversation about underinsurance does not take place in front of a burnt out building.
About Lorna Harrington.
Lorna is a Director at Barrett Corp & Harrington Ltd., a RICS regulated surveyor that specialises in insurance valuations for buildings and contents.
Prior to setting up BCH in 2006, Lorna had worked at Cunningham Lindsay as a Risk Solutions Manager, AIG Private CLient Group as the Residential Services Manager and at Chubb Insurance as an Appraisal Manager for Chubb Masterpiece.
Lorna started her career as a Lloyds broker, Brian Hogg (Aon), placing fine art and historic houses businesses in the London Market.