Claims deluge: water damage continues to makes waves
28% of residential and commercial property claims are the result of water escape, according to statistics for January to September issued by Lockton’s Real Estate & Construction division. Storms have also proved a problem area, accounting for 23%of circumstances and claims.
Claims resulting from instances of fire are down nearly 70% from the level in 2006 (69 per cent) – accounting for 21%of claims so far this year.
Steve Bracey, managing director at Lockton’s Real Estate & Construction, said: “There has been a marked increase in the number of water escape claims – with the statistics for 2007 already at 28 per cent – up from 16 per cent last year. These figures highlight that this danger is not just a problem for the construction industry.
“Residential and
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