Landlords hunt for cover
Page, E.
Landlords hunt for cover - 2005 - Estates Gazette (0501) 8 January 2005, 87-88(2) .
Considers the problem of insuring against risks such as terrorism and flooding. The tenant is most likely to be responsible for reinstatement costs and also has to continue paying rent if damage is caused by an uninsured risk. Discusses the Pool Re system of insurance cover which has been extended to cover other forms of terrorism other than what it was originally set up for. However there is an insurance gap as insurers still use a wide exclusion based on the Terrorism Act 2002 or the narrow definition of the Re-Insurance (Acts of Terrorism) Act 1993. Concludes that the market is moving away from the position where risk for uninsured risk falls exclusively on the tenant.
TERRORISM
FLOODING
RE-INSURANCE (ACTS OF TERRORISM) ACT 1993
POOL RE
TERRORIST ATTACKS
LEASE NEGOTIATIONS
UNINSURED LOSSES
Landlords hunt for cover - 2005 - Estates Gazette (0501) 8 January 2005, 87-88(2) .
Considers the problem of insuring against risks such as terrorism and flooding. The tenant is most likely to be responsible for reinstatement costs and also has to continue paying rent if damage is caused by an uninsured risk. Discusses the Pool Re system of insurance cover which has been extended to cover other forms of terrorism other than what it was originally set up for. However there is an insurance gap as insurers still use a wide exclusion based on the Terrorism Act 2002 or the narrow definition of the Re-Insurance (Acts of Terrorism) Act 1993. Concludes that the market is moving away from the position where risk for uninsured risk falls exclusively on the tenant.
TERRORISM
FLOODING
RE-INSURANCE (ACTS OF TERRORISM) ACT 1993
POOL RE
TERRORIST ATTACKS
LEASE NEGOTIATIONS
UNINSURED LOSSES