Watch now - New video series answers the top ten questions we're asked on Renovation Insurance.
As the construction sector gears up to return to work where social distancing is possible, we’d like to highlight the key considerations for your clients in regards to their Renovation policies where affected.
This FAQ advice also exists in video format too - take a look.
If my clients’ works were delayed due to Covid-19, do they need to extend their policy?
Yes. Works delayed due to Covid-19 will be extended beyond the original anticipated completion date. Please advise your clients to extend their renovation policy to take account of this. We are unable to do this free of charge because cover has been maintained on the existing structure despite works being in cessation.
What happens if works need to stop again and the site goes back into cessation?
If your clients’ sites go into cessation again, the clock restarts on the cessation clause within the policy and reverts to 90 days for all of our markets. You can find out more about cessation specifically in our detailed article.
Who decides if contractors can work safely on my site?
If your clients have a single main contractor running the site, it is the contractor’s responsibility to make Health and Safety arrangements for distance working on site. If your clients are self-managing the works, they are in quite a challenging position and should seek advice from their CDM Coordinator before restarting the works. It is quite possible that your self-managing clients have a duty of care to the Bona-Fide Subcontractor (BFSC) and especially any Labour Only Subcontractor/s (LOSC) coming onto site in this interim period.
Is there anything else a client needs to be aware of?
Now is also a good opportunity to check with your client that the originally submitted risk information remains correct in light of the changed circumstances. We would ask you to double check the Risk Management Question Set, and the contract value with your client. The contract value should include not only the value of the main contract, but also the value of any additional contracts, of direct purchases, and VAT where applicable.
Do I need to contact my policyholders directly about this development?
The construction sector’s return to work may affect a number of your clients right now. At times like this, it is more important than ever to remain in contact with your clients to help them understand their obligations and to provide them with advice on how to comply.
A client wants to obtain a new quote, can you provide it right now?
Now is a good time to prepare quotations for future renovation work, to identify likely costs and commitments for your clients. Quotations are valid for 90 days but can be requoted quickly after that period by our underwriters from their home offices. Our online portal continues to serve the market to support new policy enquiries too. Here’s how to access it.
I have other questions, can you help?
The Renovation Underwriting team is committed to providing the upmost support to you and your clients; just as we always have been. Our Underwriters are available to talk to you personally regarding any queries or challenges you face due to this emerging development in the Construction sector - just get in touch. If you need help interpreting the Terms and Conditions of RUL policies, or wish to discuss any specific circumstances further, we’re happy to help.
Don’t forget, over the last few weeks we have published a number of detailed insights and FAQ’s to outline potential effects of Covid-19 on your clients’ policies and Renovation works. See the series of articles and videos so far online.
* Please note that the guidance presented here was correct at the time of publication (as shown), but we would advise you to call us to confirm the very latest updates if this content is of relevance to you.