Lynwoods Building Consultancy - Insurance Assessments

INSURANCE REINSTATEMENT ASSESSMENTS & VALUATIONS

Since 2017, we have been assisting FGC (Northern) Ltd in its insurance loss adjusting and assessment work. Drawing upon our experience in construction and design and project management, we have developed niche expertise in insurance reinstatement work, covering all aspects of loss assessment, loss valuation and reinstatement design and procurement.

Working alongside FGC (Northern) Ltd, we have assisted its multinational insurance clients in managing large loss claims throughout the UK. Our expertise has helped insurance companies to unearth numerous instances of misrepresentation, policy violations and inadequate insurance cover. Our experience has shown us that there is a major problem across the UK of underinsurance in property, which has devastating consequences for policyholders.

If your property is underinsured and you have a valid insurance claim, the underinsurance will be discovered sooner or later, and you could be severely penalised with a payout that does not cover your financial losses. You may receive no payout at all.

we often uncover the same issues on the insurance claims that we look at:

Insurance Cover

Inadequate levels of insurance cover on properties. In some cases, this cover is as low as 10% of the true value. Over 90% of the cases we look into have some degree of underinsurance.

Misrepresentation

Misrepresented claims – whether knowingly or unknowingly – that are often easy to unravel, leading to substantial delays, claim denials and even policy voidances.

Inadequate Design

Reinstatement proposals that omit large quantities of work, miss key statutory compliance requirements, or fail to account for site-specific factors that have an impact on the costs.

Policy Declarations

Key information about the risk property that has not been communicated to the insurer, such as Listed Building Status, the true extent of the property, mid-term alterations, and works that do not have statutory approvals.

examples of recent claims we have helped to manage:

Extensive fire damage to a 1950s industrial unit

Malicious damage to a 1930s residential rental property

Vehicle impact damage to an 1880s high street retail property

Arson and theft damage to a Grade II Listed 17th-Century public house

We can provide insurance companies and loss adjusters with assistance on insurance claims, including advice on the adequacy of the insurance cover, the technical details of the insured perils and damage caused, and potential misrepresentations.

We have a proven track record in helping insurance companies to defend against vexatious and misleading complaints filed by policyholders through the Financial Ombudsman Service.

We can provide insurance policyholders with assistance in calculating adequate insurance levels at the policy inception stage, producing accurate reinstatement schedules that fully cover the extent of claimable building loss, and procuring reinstatement work through competent local contractors.