Insuring in a changing environment

As new regulations and building techniques?come on stream, Ralph de Mesquita gives an?overview of how insurers are responding.

Many?insurers?have a focus on?property resilience as, first and?foremost, the protection of property is?a personal story that involves people. Paying?out insurance claims is the core promise of the?insurance contract but, on a day-to-day basis,?the insurance industry is very much people-based, especially when it comes to dealing?with major losses.

As insurers, we recognise that the?government have taken some positive?steps with the introduction of the new?building safety regime in respect of new?high-rise residential buildings, including the?banning of combustible cladding above?18m for residential buildings, and a recent?tightening up of controls for buildings above?11m, although there remains differences in?approach across the UK.

However, these reforms are just a first step?in improving building safety, as despite these?changes, building regulations are still focused?on life safety. Life safety is of paramount?importance, but this means that regulations?do not take full account of either the physical?or psychological damage fire can have on?an individual or how to approach the issue of?property protection through building regulation.

The focus on life safety is similar for the?existing built environment which is assessed?on a risk-based approach. This means that?combustible cladding and elements of?construction can still be accepted subject to?a risk assessment. The question is, should the?future of regulation move away from a purely?life safety-based approach?

As part of the Fire Protection Association's continuing commitment to increase fire safety awareness across the built environment, a number of informative feature articles are available to read on our website.?You can read the full article here.