Buildings insurance renewal whilst subsidence investigations ongoing

friendam

Hoping someone within the industry can advise. Investigations for subsidence have been going on for 20 mths or so, have had SE inspection and report, drain surveys and relining, tree survey and a telephone pole moved thought to have punctured a main sewer outside of  my property boundary. Currently level monitoring until August. My insurers have just renewed my insurance for another year...(2nd time) grateful they are still offering me cover.

However I was verbally told during the renewal conversation that cover was 'barring ongoing investigation'. These words do not appear in the policy document but there is under  subsidence an exclusion for damage or loss that pre dates this renewal. What does that mean for me because presumably any further movement which causes more damage should still be part of my first and only ongoing claim.

Can anyone tell me what this means to my situation please? Thank you.

Annemos

I believe that wording above might be something one typically sees, to allow an Insurer to only have to handle damage that has occurred within its own Policy dates.   

But there are Ombudsman cases that say Subsidence may specifically fall outside this concept, as long as the Homeowner's home was covered for Insurance throughout. 

(We had a discussion on this aspect back in November 2023. See our earlier Post:  Subsidence is Progressive etc, Timing of the damage when a Homeowner has changed from one Insurer on the last Policy to a New Insurer on the renewal. One of them has to cover the Subsidence Claim.)  



I have asked friendam to take a look at the main Underwriter on this new Policy. 

The previous 2 policies have been arranged through the MGA "Policy Expert" using the main Insurer/Underwriter Accredited Insurance (Europe) Ltd. 

I have just found these two bits of Insurance news reporting... I am not clear if Bridgehaven is just for the Pet Insurance. Could it be being used for Homes too? If so, is that what might have triggered this new "wording"? 


https://beinsure.com/news/cinven-acquired-policy-expert/

https://www.reinsurancene.ws/bridgehaven-and-accredited-secure-capacity-deal-with-policy-expert/


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Edit:  just pulled up their Home Policy Product Information Document:    Bridgehaven is mentioned on there: 


https://docs.policyexpert.co.uk/home/qgl14/home_pebronzehome_ipid_1124.pdf?_gl=1*ef1c*_gcl_au*MTc4MzI5OTk0LjE3NDU1Mjk3NDE.*_ga*MjUwNTgyMzk0LjE3NDU1Mjk3NDM.*_ga_NGNFMDBK2K*MTc0NTUyOTc0Mi4xLjEuMTc0NTUyOTkzMi41MS4wLjU5MzQ2NDY0NQ..


https://docs.policyexpert.co.uk/home/qgl14/home_pebronzehome_wording_1124.pdf

Also see page 40 in the above..... they seem to be sharing the Policy???  Is this now 50/50 between the two Insurers, as the ownership has also changed in the ratio 50/50. (Neither Insurer takes on the Liability of the other Insurer). 



This next one says:   "The new co-insurance arrangement will see Bridgehaven work alongside Accredited, with the two carriers providing capacity equally"


https://www.bhvn-ins.com/wp-content/uploads/2024/11/Policy-Expert-Bridgehaven-partnership-announcement.pdf

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friendam, if this is correct, I would be thinking about fighting to stay with just the same Insurer Accredited. (For 100% of the Policy).   After Subsidence we should stay with the same Insurer.  

Accredited is a Member of the ABI. And so should be providing Continuation of Cover after a Subsidence claim.


https://www.abi.org.uk/about-the-abi/abi-members/


So if I was doing this Policy for you.... I would scrap the wording they have used above in your Post... and instead I would put a different endorsement on it:   

"This Policy is covered for 100% by Accredited Insurance (Europe) Ltd. And 0% cover is provided by Bridgehaven".    


(MGA's on Policies make my nerves go into overdrive!) 

friendam

Thank you Annemos that is all very helpful and I can see now that Bridgehaven have been added to the trusted underwriter partners of Policy Expert. I would have hoped as Accredited as still listed and that is who I am with the ABI obligation would have been honoured. I will get onto PE now.

Annemos

In my opinion, the issue is much more fundamental than this. From what I can see, the two Insurers are now CO-INSURERS on your Policy. 

I suspect this means both are underwriting 50% each. 

This is just not good enough for a home that has had Subsidence. You will potentially get into all sorts of knots on an ongoing basis. If Accredited later drops out of covering Policies, Bridgehaven will be under no obligation to offer you Continuation of Cover. 

I feel you need to try and sort this issue out now......

Accredited is ABI and must continue to offer ongoing Insurance on its own, to satisfy the Accepted Industry-wide Good Practice of providing Continuation of Cover after a Subsidence Claim, which was only handled by Accedited. (Provide Continuation of Cover both during the claim and afterwards.) 

If PE cannot help you sort this out with Accredited, then I would file an official Formal Complaint with Accredited as discussed asking for a 100% Policy. Once that is done, your question about which one will cover any Subsidence damage then becomes irrelevent, as there is only the One Insurer. 


That's how I am viewing all this. 

friendam

Thank you so much Annemos.all a bit of a minefield.