Cladding: BIBA welcomes plans for state-backed PI scheme

The British Insurance Brokers’ Association has welcomed government plans to design a state-backed scheme to cover professionals carrying out EWS1 form surveys who are unable to obtain professional indemnity insurance.

BIBA has been working closely with Ministry of Housing Communities and Local Government on the challenges of insurance for cladded buildings and liability relating to the EWS1 forms is a key part of this. Its 2021 Manifesto stated: “BIBA believes government needs to create a new temporary PI solution to unlock the delay in making residential cladded buildings safe”.

“Today’s ministerial announcement is a very positive development and we will continue to work with MHCLG to help deliver a targeted, state-backed indemnity scheme to address the continuing insurance challenges in this area,” the association stated.

The government said it plans to continue to work closely with industry to design an appropriate scheme, further details of which, including eligibility and the claims process, will be available in the coming weeks.

    Share Story:

Recent Stories

Financial institutions were early adopters of cyber security and insurance. Are they still on top of the game?
Managing huge amounts of sensitive data online makes financial institutions a prime target for hackers. As such, the sector was an early cohort for insurers in creating cyber cover. Since then, the market has evolved almost beyond recognition. It continues to challenge itself to this day, complying with rigorous regulatory demands and implementing avant-garde enhancements to keep abreast of the ever-changing risks. Published June 2021

Manufacturing: An industry at risk amid great technological change
Of the many sectors of business, manufacturing companies are among the most at risk from cyber threats. How has the sector evolved to make it so vulnerable and what does the task of managing cyber exposure in a manufacturing company look like? CIR’s latest podcast with Tokio Marine HCC sought to answer all these questions and more. Published April 2021