Case Study: High-rise Residential Tower Built using Modular Construction
Case Study
Innovative London high-rise residential tower of flats built using modular construction, but at what cost for the insurance?
Residents are facing premium increases year on year due to innovative construction methods
“Our premium costs were rising year on year and we were not insured correctly. Ascend carried out an in-depth review and suggested ways in which we can reduce our premiums and insure the building correctly.
Stuart has been with us every step of the way, tirelessly working to reduce our premiums. Whenever we contact him, we get a response, whether it’s during office hours, evenings or weekends.”
Sector: Real estate
Sub Sector: Property owners
The Problem:
Significant premium increases due to innovative construction.
The Solution:
Ascend were appointed on the risk to bring down the premium. It was quickly identified that the policy was in the name of the wrong entity. A market exercise was carried out, as well as suggestions on how tenants could bring down the premium.
