A lack of relevant case law means it is still too early to say what impact the Insurance Act (2015) will have on cases of underinsurance.

Underinsurance could mean a Surrey-based family ends up being almost half a million pounds out of pocket following a fire at their home.

It happens! A policyholder wants to reduce their insurance premium, so they turn to the buildings sum insured...

While index-linking of sums insured on buildings offers some protection from underinsurance, it’s not something policyholders should rely on

Brokers have opposing views around the provision of information or advice in relation to underinsurance,

Almost three quarters of commercial buildings with sums insured of £500,000 or less are underinsured.

Most brokers believe the majority of commercial and high-net-worth household properties are either “severely” or “very” underinsured.

Since the Insurance Act came into force in 2016 we’ve been wondering what difference the legislation might make in cases of underinsurance.

Brokers want a shift in focus from buildings sums insured being examined following a loss, to being assessed before a claim takes place.