Is asbestos management covered by the property managements building insurance?

ORobertS

Quick question.

I am landlord of flat, which is part of a building block. Recently I have been told there have been issues with asbestos. Collectively to resolve this, this is costing the block about £74,000. Per flat that is around £2,200.

My question is....does the building insurance of the property management cover this? Or do we have to pay for this individually.

Many thanks in advance for your help 

MyRealNameToo

ORobertS said:

Quick question.

I am landlord of flat, which is part of a building block. Recently I have been told there have been issues with asbestos. Collectively to resolve this, this is costing the block about £74,000. Per flat that is around £2,200.

My question is....does the building insurance of the property management cover this? Or do we have to pay for this individually.

Many thanks in advance for your help 

Insurance covers you for specified perils like fire, flood, earthquake etc not for it being deemed at a later date that historic building materials are unsafe. That would be a claim against whoever specified the material and their insurance but the law of limitations has a 15 year cap on such claims and if the building has asbestos then its going to be beyond the cap. 

One for you to pony up unfortunately.