Property claims for escaped water tripled

Statistics compiled by Lockton's Real Estate & Construction division revealed that property claims arising from escaped water trebled over the past 12 months, accounting for 45% of the total logged by the insurance broker. Steve Bracey, managing director, Lockton's Real Estate & Construction division, said: "Increasingly, insurers are telling us that something has got to be done about this problem, which not only affects the insurance community but has a major impact on property firms' balance

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