Thank you for registering for the recent UKAA webinar, looking at managing the risk of Escape of Water in Build-to-Rent properties. If you were unable to attend the event or you’d like to share the content with colleagues or clients, you can access a recording of the session below.
The webinar underlined the extent of the problem that water leaks poses in the UK residential property market today, with £368m paid out in Escape of Water claims in Q4 2022 alone.
Bringing together experts from the insurance and leak detection industries, the webinar offers attendees a number of practical tips and advice on how BTR investors and operators can minimise the impact of a major water leak, both from a financial perspective, but also to reduce the emotional distress that can be felt by residents, therefore adverselty affecting their customer experience.
Both Aqualeak and Aon stressed the importance of BTR owner/operators considering their approach to mitigating Escape of Water risk early, working in partnership with multiple stakeholders, including insurers, specifiers, contractors, property managers and product manufacturers, to develop a holistic approach across asset design and construction, ongoing property management and claims processes, to reduce the costly and disruptive effects of damage caused by burst or faulty pipework.
The session also highlighted the importance of ‘knowing your risk’ – understanding where a property may be susceptible to leaks and other issues, particularly where a BTR owner acquires an asset post-completion. At a time where a light is being shone on compromises to construction quality as a result of cost management, it is vital that BTR owner/operators have a clear awareness of where the hidden risks may lie, therefore giving every opportunity to offset them.
Aqualeak is one of the UK’s leading providers of water leak detection and monitoring systems, protecting thousands of properties across the residential, commercial and industrial sectors. If you would like to discuss your approach to managing Escape of Water risk on your asset portfolio in more detail, please contact Andrew Jones at firstname.lastname@example.org.
Acting for 25% of the world’s largest real estate investors, Aon’s Real Estate team provides development to disposal insurance solutions for all asset classes from residential through to logistics. For a confidential, no obligation review of your existing insurance programme or for guidance on any aspect of insurance or risk mitigation, please contact Emma Vigus email@example.com.
Thank you again for your interest in this webinar.