Approved Inspector Receives Professional Indemnity Insurance - Despite Scaremongering

BOURNEMOUTH, England - Rezul -- The last 12 months have seen a significant deterioration of the UK professional indemnity (PI) insurance market with a large number of insurers withdrawing,

So what has been the cause of such a rapid and significant change?

"One factor commonly held as a major reason is the Grenfell tragedy of 2017 as both this and the costs in making mid and high-rise buildings around the UK less vulnerable to fire will cost the insurance industry significant sums. However, the reality is that this is only a small part of the equation" says Gary Boome, Director of BM Property Insurance.

In the AI arena, only three insurers are approved by the Government:
- NHBC – who only underwrite NHBC instructions

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- Howdens, who earlier this year pulled out of the market
- Griffiths and Armour are now the ONLY insurers,

Mark Cook, said: "Mindful of the problems other firms were facing, MCPASS started our renewal process four months before renewal.  Other firms have not been so successful and the LABC have been waiting in the wings for this to happen by circling like vultures, waiting to swoop in the event the AI doesn't receive insurance, or the premium is too high for them.  The Local Authority will then demand the work back from the AIs, saying they can't then continue with the work as they're uninsured, which is crazy as the LABC are also uninsured.

"We have had confirmation recently from a building control surveyor employed by the LABC that they have been instructed to use the insurance situation associated with AIs as a marketing ploy to win work back.

"In truth, as an independent AI company we have far more hoops to jump through than LABC; we are audited by the CICAIR (Construction Industry Council Approved Inspector Register) on a regular basis to ensure that we stay compliant with the Approved Inspectors regulations unlike the LABC building control departments.

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"MC Plan and Site Services have to be fully insured to practise the building control service, unlike the LABC who don't carry any insurance and therefore are not culpable for negligence. I find it difficult to understand why anyone would use an organisation that provides no protection.

"We are delighted with the outcome and are truly grateful to our insurers for having as much confidence is us as we do!  Now, let's get on with the business in hand.." Mark added.

For more information visit https://www.mcplanandsiteservices.co.uk or telephone 01202 744966.

#Grenfell #BMPI #ProfessionalIndemnity #ApprovedInspector #CIC #CICAIR #LABC