Down the drain

Whether on a construction site, or in a commercial or residential property, escape of water was - until recently - drowned out by the insurance industry's preoccupation with fire. However, Sarah Hills highlights how teamwork may be able to pull the plug on the rising number of water damage claims

Traditionally, the threat of fire has presented the biggest risk to the insurance industry, but the rise in water damage claims has caused insurers and brokers alike to sit up and take notice. Moreover, to add insult to injury, this is not a factor that is isolated - like fire, the risk of water damage has spread from construction sites to residential and commercial properties.

Research conducted by Lockton's real estate and construction division indicates that property professionals are becoming