Is your business in the right location?
With changing weather patterns, an office sensibly located just 10 or 20 years ago could now constitute a risk. Developments in the market can help you to quantify the risks and make better decisions around existing locations and future expansion.
The integration of technology in buildings and the data-gathering this enables is helping real estate operators and investors to raise the profitability of properties but it is also changing the nature of risk exposure in the sector.
The risk of floods damaging buildings is set to rise due to climate change, but it is already threatening the viability of many businesses across the UK.
As COVID-19 boosts demand for online deliveries, the logistics sector is expanding its warehousing capacity and is set to implement multi-level properties in urban areas, following the lead of the likes of Singapore, Hong Kong and Taiwan.
When COVID-19 hit, both insurers and the insured had to grapple with policy claims and whether a product responded to the crisis. It’s been a steep learning curve and it’s time to look at how some typical construction insurance policies have responded and how the insurance market may evolve post pandemic. This assessment is based on Lockton Singapore's experience but reflects developments happening in the sector globally.