Approved Inspectors Information Alert - Griffiths and Armour

share of the premium (and the claims) to reduce the perceived risk profile of this segment of the market. We will therefore need to engage with other markets to gain sufficient capacity in a restricted marketplace. – Any new entrant to this market, whether part of our new Scheme or in the open market, will be nervous about legacy exposure and will likely seek to impose additional restrictions in relation to past work. We will robustly challenge any restrictions so that they are as narrow as possible and work with you so that you understand the impact on your business. – Fire safety claims are a huge concern for the insurance market as a whole. We expect any AI policy renewing after the Approved Scheme has expired to contain a provision only covering fire safety work undertaken from inception onwards – i.e. it is highly likely that there will be no cover for any ‘Fire Safety Notifications’ arising from historic work. Please see our earlier guidance as to what types of claim this might cover. – It is likely that cover in respect of statutory services will be available on an aggregate basis only, rather than on an unlimited ‘each and every claim’ basis. This is due to the uncertainty around the role and the potential new liabilities which Approved Inspectors might face in the future. – Finally and sadly, it is important that we let you know that we are not able to guarantee that renewal terms will be available to all existing clients, particularly practices where insurers consider the risk profile to be particularly problematic. We will endeavour to provide as much notice as possible where this is a potential outcome, in order that firms have plenty of time to source alternative insurance provision. As soon as we have finalised the insurance specification of the solution to replace our current Scheme, we will of course share full details with you. In the meantime, if you have any questions at all, please do not hesitate to get in touch with your usual contact at Griffiths & Armour.