BCH Ltd

Reviewing our statistical findings from Q3 2024, we can now confirm that in Q3 of this year, BCH Ltd has continued to find underinsurance in 62% of instructions prior to a Reinstatement Valuation being conducted, with over insurance found in 22% of cases. With only 16% of instructions in this time being within insurer tolerance at the point of instruction, and these Declared Values not necessarily being protected by Average Waiver, we continue to see the importance of accurate Declared Values reinforced. The BCH Ltd Year in Numbers campaign runs throughout the year, giving quarterly, half year and annual overviews of our buildings insurance valuation findings. Please follow this page for regular updates or email info@bch.uk.com for more information.

In the third quarter of 2024, BCH Ltd’s largest recommended single Declared Value exceeded £244,160,000, while the smallest was just £13,000. We offer Reinstatement Valuations for buildings of any size, style, or function. We frequently work with large, complex structures of architectural significance, but smaller items like garages, sculptures, and boundary markers also often require a defined insured value, which can sometimes be easily overlooked. For inquiries about your Reinstatement Valuation needs, please reach out to info@bch.uk.com.

We're proud to work with Howden, the new name for Aston Lark, a trusted name in risk management and insurance. Their Asset Protection solution offers a comprehensive, three-year plan to safeguard your building assets. It was very interesting to hear from Scott Crichton about the benefits of this. Ensuring your property is protected has never been more essential. Let’s work together to keep your assets secure https://lnkd.in/eJvnEed

At BCH Ltd, we're committed to addressing climate change and reducing our environmental impact. Our team understands climate risks, actively seeks solutions to reduce our output, and unlocks new opportunities for change. Together, we can create a sustainable future where our business thrives.

In relation to Aviva's recent interview with Insure TV; data should support, not replace, surveyors and professionals. In an increasingly data-driven world, it's essential to remember that data should enhance our work not succeed it. The expertise and critical thinking that professionals bring cannot be substituted by numbers. To truly leverage data, it must be clean and reliable. Clean data ensures accuracy, which is key to informed decision-making. That's why we're taking proactive steps to improve data quality within our processes; investing in better tools, thorough validation, and continuous refinement. By empowering surveyors with better data, we’re ensuring they can do what they do best, smarter and more efficiently. 

In Q3 of 2024, BCH Ltd identified Underinsurance in 62% of cases before conducting a Reinstatement Cost Assessment. This indicates that over 3 in 5 policyholders could have faced delays in claims settlement and likely received a reduced payout from their insurer if a loss had occurred. Underinsurance doesn't just affect total loss situations; even partial losses may result in a proportional settlement due to the application of the average clause. Many buildings insurance policies will waive the average clause if the Declared Value is based on an up-to-date, RICS-compliant Reinstatement Cost Assessment.

As The Property Institute Conference 2024 draws to a close, it’s fantastic to see how many industry professionals continue their commitment to keeping abreast of regulation and changes in the flats and leasehold space. In addition to being a partner of The Property Institute, BCH Ltd are able to meet a number of our Property Manager, Managing Agent and Flats specialist Insurance Broker partners at this annual event, which is a highlight of the calendar for in-person learning and networking. The buildings insurance premium of a block of flats is often the largest contributory component of the service charge, and BCH Ltd are proud to have developed Reinstatement Cost Assessment services specifically for this market, promptly providing accurate Declared Values in reports containing information relevant to all stakeholders.

Following our book donation in partnership with Humanimal Trust to Birmingham Women's and Children's NHS Foundation Trust, we attended Humanimal's 10th anniversary symposium on 09/10. This was an incredibly educational and insightful day and we look forward to working more closely with them in the future. Making more than a donation, Making a difference.

Flats present a nuanced area of consideration for Reinstatement Valuations, and an area of specialism for BCH Ltd. Flats can be large buildings presenting various complexities and facets of design, with flats stakeholders, including leaseholders, often having an involved and vested interest in ensuring their premium contributions are accurate. ‘Beyond Four Walls’ is a podcast shining a light on all areas of flats management and the people who make it work. This weeks episode features Rob Mayo of BCH Ltd partner, Insurety Ltd. A worth while listen and a great opportunity to log industry relevant CPD!

📸 Say cheese! At our recent Partners In Success conference, guests enjoyed the photobooth as part of the evening celebrations - provided by one of our Insurer Partner sponsors 🙌 If you attended and want to see the pictures, get in touch and we'll send you the 🔗 #GainingMomentum #Conference #Partnership