Security for Expenses is a new and cost-effective solution for Building Owners that will allow them to meet requests for security from Adjoining Owners under Section 12 of the Party Wall etc. Act 1996 (‘the Act’), without tying up large sums of money in escrow.
This innovative insurance solution has been designed with ‘the Act’ in mind and helps avoid delays that can be caused by a traditional insurance claims process.
“PIB Insurance Brokers are delighted to offer an innovative and thoughtful solution designed to provide a real insurance option, benefiting both the Building Owner and the Adjoining Owner, while also paying careful consideration to the Party Wall etc. Act 1996,” says Fraser Pratt, Head of Property & Construction, PIB Insurance Brokers
To find out more, click here.