Today’s real estate landscape brings complex challenges and changing risks. Marsh’s innovative solutions and industry knowledge can help you move forward with confidence.
Marsh’s latest environmental benchmarking insights examining factors impacting the demand for environmental impairment liability insurance across Europe.
Real estate owners, operators, managers, and developers worldwide face numerous risks that can impact their business. Rising construction costs and land prices continue to alter the landscape, while property losses from fires, natural hazards, or terrorism can damage market share, revenue, brand equity, and shareholder value, as could data breaches and cyber-attacks.
Marsh’s UK Real Estate Practice can help. We offer a global network of advisers dedicated exclusively to the issues facing today’s real estate organisations. Our UK property risk consulting and advisory team brings decades of expertise on hotels, shopping centres, non-performing loans (NPLs), and inherent (or latent) defects insurance (IDI).
Marsh’s UK Real Estate Practice can help you save costs, access broader coverage terms and conditions, and benefit from a streamlined service platform. Together, these can yield a competitive advantage for your organisation.
A natural fit occurs between a portfolio of hotel assets and real estate companies, in that both present a significant amount of assets to insurers, principally buildings (and contents in the case of hotels) with similar risk profiles. In the hotel and hospitality sector, it is necessary to understand that the protection of your assets’ ability to generate revenue is just as important as the protection of the assets themselves.
Major shopping centres present unique risk management and insurance challenges to owners and operators. Marsh is a leading broker of shopping centres and currently looks after some of the largest and most recognisable in Europe. Our knowledge of this sector has allowed us to evolve our services to ever-changing needs.
With banks selling billions of pounds of non-core real estate debt to meet regulatory requirements, European NPL transactions continue to command global attention. Marsh’s Construction and Real Estate Practice understands the risks inherent in these transactions and uses a combination of real estate and merger and acquisition (M&A) experience to craft solutions to ensure a deal’s underlying collateral is appropriately protected.
During the construction phase of a building, loss or damage is normally insured under an “all risks” contract works insurance policy, which provides funds for the repair or damage. Following the completion of construction, a property “all risks” policy is usually arranged, although this policy normally provides no protection for damage arising out of an inherent or latent defect in the building.
Insurance against inherent defects in buildings is designed to overcome these problems. It is an insurance that covers the cost of repairing a building should an inherent defect in the structural works (deemed to be the load-bearing structures, external walls, and roofing) cause damage, or threaten imminent collapse, during a period of up to 10 or 12 years following practical completion of construction.