Government to change policy on dangerous cladding replacement?

Laggerwarrior1

Small print and legal jargon usually means they don’t honour a claim. Not picking on anyone in particular because they make obscene amounts of profits either, just pointing out in the hierarchy they sit at the top but it’s the small guy who foots the bill either through higher premiums or via a Government raising taxes. 
while ordinary folk are sitting in limbo waiting on a decision being made in dangerous homes which are now valued at a fraction of what they paid for them.
, and would be buyers can’t get a mortgage on said property….its a shambles for these poor people. 

You say there’s one plausible change to resolve it?

BarelySentientAI

Laggerwarrior1 said:

Small print and legal jargon usually means they don’t honour a claim. Not picking on anyone in particular because they make obscene amounts of profits either, just pointing out in the hierarchy they sit at the top but it’s the small guy who foots the bill either through higher premiums or via a Government raising taxes. 
while ordinary folk are sitting in limbo waiting on a decision being made in dangerous homes which are now valued at a fraction of what they paid for them.
, and would be buyers can’t get a mortgage on said property….its a shambles for these poor people. 

You say there’s one plausible change to resolve it?

Most claims are honoured.

Most complaints are not upheld because the insurer is found to have acted correctly.

You imagine a hierarchy that does not exist.

Insurers do not design, approve, inspect, or sign off properties.

Laggerwarrior1

What does an underwriter do?

“An underwriter in the context of insurance is an individual or entity that evaluates and assesses the risks associated with insuring a particular client or asset. Underwriters are responsible for determining the level of risk involved in providing insurance coverage and setting the terms, conditions, and pricing of the insurance policy accordingly. They analyze a variety of factors including the client's risk profile, the type of insurance coverage needed, the potential for claims, and the overall financial stability of the client. Underwriters also ensure that the insurance policy complies with regulatory requirements and company guidelines. Their main goal is to calculate the appropriate premium that adequately covers the risk while ensuring profitability for the insurance company.”

I rest my case…..they sit at the top of the “food chain” so to speak

BarelySentientAI

Laggerwarrior1 said:

What does an underwriter do?

“An underwriter in the context of insurance is an individual or entity that evaluates and assesses the risks associated with insuring a particular client or asset. Underwriters are responsible for determining the level of risk involved in providing insurance coverage and setting the terms, conditions, and pricing of the insurance policy accordingly. They analyze a variety of factors including the client's risk profile, the type of insurance coverage needed, the potential for claims, and the overall financial stability of the client. Underwriters also ensure that the insurance policy complies with regulatory requirements and company guidelines. Their main goal is to calculate the appropriate premium that adequately covers the risk while ensuring profitability for the insurance company.”

I rest my case…..they sit at the top of the “food chain” so to speak

An underwriter decides whether the price of the insurance is sufficient for the risk.  Your quote says exactly that.

Nothing in your quote supports your argument.

But yes, please rest your case because it is fundamentally flawed.

I will query, though, why you are so intense on blaming insurers for technical and management defects on the part of all of the parties that are actually involved - which anyone with even a passing knowledge of the Grenfall investigation would find trivial to identify.

Laggerwarrior1

Not aimed specifically at Insurers per se, my argument is aimed at the people much higher up the ladder with more resources and expertise in dealing with this type of issue instead of sitting back rubbing their hands or sitting on them while ordinary hard working people become another statistic on the long list of aggrieved disenfranchised victims of Corporate malpractice in this country.

My argument centres around the fact that they (Insurers) are underwritten, I’m not stating the underwriter is responsible for the property claim, I’m merely pointing out at some point in the process some faceless wonder, sitting in Lloyd’s of London supposedly analysed and ‘underwrote’ the Insurance for these developments and many others like them on the basis or just copied and pasted one done before😀 that they had analysed everything and gave a stamp of approval for it to go ahead, accepting that, given the information at hand, the Developer and Contractors were “acting in good faith” using the proper materials as per the building Standards & Regs at the time. However, if it turned out any of this was substandard or cheap foreign imports, not to British Standards, they underwrote the Policy giving the go-ahead.

”They analyze a variety of factors including the client's risk profile”…..

although I think this quote says it all…..

“Their main goal is to calculate the appropriate premium that adequately covers the risk while ensuring profitability for the insurance company.”

The fact that the Insurance Industry is classed as operating in the Investment Sector might have a bearing on things.

Still it doesn’t excuse the fact they “underwrote” the policies during and after Construction.

In investigations of this type, it’s shouldn't be about who’s to blame, it’s about finding solutions to resolve a fundamental problem, support the victims and fix it, so that it never happens again. But it will simply never happen, because this approach is never ever taken. It’s almost always about finding a way to absolve themselves of responsibility and “squirm” out of paying up! In the end small man suffers, Joe Public foots the bill…..and so it continues………

BarelySentientAI

So, still misunderstanding what underwrite means (I can only assume deliberately so now).  You either have a vendetta or you are trolling, though your language strongly suggests the former.

I will leave you with one final thought, as debate is pointless in this scenario.

Your car insurance has an underwriter.  Their job is exactly the same as the underwriters that you are accusing of failures.  How much does the car insurance underwriter know about how you drive, who drives near you, what tyres you have on your car, whether you choose to wear a seatbelt, if you decide to add any modifications....  Should they be investigating you in detail each year in case you've given them the wrong details, checking that your car continues to meet standards etc?

Obviously not, because that is the job if the MOT test, the police, your personal declaration etc.

No point in any further comments from me.