Risk to building owners - Remember to Notify Your Insurers
This post was written by Siobhan Hayes and Richard Nicoll.
The duty on investors and other owners to notify building insurers and keep them updated of all material circumstances should not be under-estimated. Failure to do this may result in cover being prejudiced.
An unusual case that reached the Court of Appeal earlier this year made us think about whether property investors have got more to disclose to their buildings insurers in this market. They probably have.
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