Insurance
No-one is ever fully prepared for a disaster – whether fire, flood, subsidence or structural damage – and it is therefore essential to have confidence that adequate cover is in place and that reinstatement and repair works will be managed properly by an independent project manager who has experience in dealing with such situations, leaving the client to come to terms with the consequences of the loss.
Fire in a residential property is one of the most traumatic events imaginable.
The shock makes dealing with immediate practical matters required to carry on normal every day living enough to bear, without the added worry of reinstating the property.
This reinstatement requires a project manager who can agree the scope of works with the Loss Adjuster appointed by the insurance company, prepare specifications, deal with planning and building regulations, organise and manage the contractors.
For a business, whatever its size, fire, flood or other disaster will place immediate and severe strain on the management of the company – often requiring all the available effort to continue trading.
The responsibility for managing the reinstatement of the building will depend upon whether the property is owned by the company or leased. In both situations, however, the appointment of an external project manager to oversee this process will leave the management to concentrate on running the business and dealing with the claim for business interruption or consequential loss.
Where owned by the company, the management of reinstating the building will place an additional burden on an already overstretched management team. The early appointment of a project manager experienced in dealing with insurance reinstatement works can make a significant difference to the performance of the company through this very difficult period.
Where business premises are occupied on a leasehold basis, it is usually the landlord who insures the building and is consequently responsible for its reinstatement. The lease does not come to an end however rent is usually suspended for a fixed period whilst the property is rebuilt.
In leasehold situations, however, it is likely that the tenant has carried out fitting out works to suit the particular needs of the business and a great deal of co-ordination will be required between landlord and tenant – just at a time when the management team are already overstretched. The appointment of a project manager by the tenant will assist initially to quickly find, agree terms for, and fit out temporary accommodation and then to represent the tenant through the reinstatement of the original building.
bspm service (where client is the insured):
- Agree scope of reinstatement works with Loss Adjuster & client
- Prepare drawings & specification of works and obtain tenders
- Planning & Building Regulation approvals
- Management of building contractors
bspm service (where client is the tenant):
- Temporary Accommodation – acquisition & fit-out
- Agree specification for landlord's reinstatement & monitor construction
- Co-ordinate & manage fitting out
Basis of Fees
Management of reinstatement works usually charged as a percentage of the cost of the works according to size of project.
Acting for tenant where landlord is responsible for reinstatement will depend on size and scope of project.
Reinstatement Valuation
BSPM can offer
- Calculate valuation for insurance reinstatement purposes
Basis of Fees
Usually fixed fee basis, depending on size of property