Real Estate Questions & Answers

 

JLT Specialty’s Real Estate team manages a cross-section of commercial and residential property clients ranging from FTSE 100 companies to individual property owners. 

The team answer a series of frequently asked questions. Contact us if you would like to discuss any of these questions and answers in more detail.

WHAT HAPPENS IF...


Loss control programmes should be broker-led, and should take a balanced view to risk. Insurers must be mindful of potential capex constraints and landlord-tenant relationships when setting their own initiatives.

Whilst insurance claims experience can be managed to some extent by way of policy excess, physical risk management initiatives are available to detect and prevent escape of water incidents.

Should subsidence occur to a property built on made up land or landfill, there is a standard market exclusion which can be negotiated on during renewal.

Your insurance broker would defend any challenges to your insurance policy by reviewing the lease obligations in conjunction with the query raised, and then highlighting the appropriateness of your programme.

Whilst insurer attitudes towards covering a lenders interest have become much more flexible, we would advise you to engage with your broker at the earliest opportunity to review the insurance requirements, and to then negotiate a compromise position where both the lender and insurer are comfortable.

Speak to your insurance broker to check if your policy includes cover for inadvertent failure to insure, up to an agreed policy limit.

Legal indemnity cover can protect your use or interest against a host of defects and restrictive covenants.

This is a very specialist area of law, and you will need to consult with specialist rights to light surveyors. Engaging early with a specialist broker can ensure that they work with your advisors to devise a strategy to deal with the risk in the most cost and time effective manner.

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