Double trouble in property
Loss adjuster finds market contradictions
According to analysis by QuestGates of nearly 140 property projects, only 12% of owners paid the correct insurance premium. The loss adjusters, which undertook the valuations from September to November 2009, found that 85% of commercial properties were underinsured compared with 70% in 2008. On average, and just as worrying, the level of under-insurance for each property, 47%, is far higher than the historical level of 25%.
Alistair Steward, director at QuestGates, said: "It is shocking. It
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