By way of case studies of buildings, Lorna will take you on a whistle-stop tour of 12 common ways to spot ‘the likely suspects’ of where underinsurance is sure to be found.
It is the insured’s responsibility to set the buildings sum insured but how do they know that it is correct? Experience suggests that brokers are asked to advise and clients seek help from inappropriate web based information. Neither is best practice and the former is a sure route to litigation. Even if the insured has built the property themselves, the figure is unlikely to be the correct base on which to set the insurance policy.
The aim of the session is to help insurance professionals highlight cases where a valuation should be an integral part of the risk management strategy. It will broaden the audience’s knowledge so that the conversation about underinsurance does not take place in front of a burnt out building.
About your speaker:
Lorna Harrington is a Director at Barrett, Corp & Harrington Ltd, an RICS regulated surveyor that specialises in insurance valuations for buildings and contents. Prior to setting up BCH in 2006, Lorna had worked at Cunningham Lindsey as a Risk Solutions Manager, AIG Private Client Group as the Residential Services Manager and at Chubb Insurance as an Appraisal Manager for Chubb Masterpiece. Lorna started her career as a Lloyds broker, Bain Hogg (Aon), placing fine art and historic houses business in the London Market.
Her personal business interests are the valuation of listed buildings and historic monuments and helping clients to achieve a more realistic valuation on their contents items. Lorna holds a post graduate diploma in Historic Building Conservation (RICS) and an MA in the History of Art and Architecture.