Wet Perils Claim- costs are increasing but what can be done about it?

Wet Perils Claim- costs are increasing but what can be done about it?

By Ian Gibbs, BSc (Hons) MRICS | National Technical Manager

FREE CPD EVENT ALL WELCOME

Ian is National Technical Manager in Sedgwick. His background is in the Insurance sector, project managing the claim/repair of domestic/commercial buildings. Then as a manager focusing on repairing building damage from general perils, specifically wet perils and fire. He has developed a service to the Insurance market to handle we perils differently and to provide flood resilient advice and repairs. Currently leading Task Group 2, “Small Business Resilience” within the Defra Resilience Round Table. He also leads for BITC the Business Emergency Resilience Group (BERG) extreme weather sub group. Also a member of the RICS Flooding and insurance working group. This provides the opportunity to influence the thinking on future flood response.

Overview:

Ian will briefly explain the traditional strategy taken to insurance claims involving water and what has been behind this approach, which has persisted for many years. However, there has been significant cost inflation on wet perils claims in recent years and we will look at what it believed to be behind these cost increases.
This problem is recognised by insurers as a key issue that needs to be addressed and they have been looking around for answers to the problem.
The opportunity to break this cycle of cost increase lies in a different way of handling these claims. We will explore why understanding the resilience of building materials is at the heart of the new approach to handling wet perils claims and what has been learnt from more recent flood events. Then see how this has practically impacted on the handling of Escape of Water and flood claims in recent years.

Learning objectives :

-To understand the current challenges wet perils claim costs for the insurance industry
-To be aware of the opportunities to take a different approach
-To be able of explain the importance of the resilience of materials
-To be able to explain how claims can be handled differently and the impact on customers

WHEN ?

Wednesday 26th June 2019

5.30 p.m. Coffee
6.00 p.m. Presentation
7.00 p.m. Buffet

WHERE ?

Venue 360 Ltd
Venue 360, Gipsy Lane
Luton
LU1 3JH

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