Covid-19 shifts PropTech priorities for commercial real estate sector

Five trends transforming the commercial real estate sector amidst Covid-19

The coronavirus pandemic is changing the way businesses operate due to the need to enable social distancing. The commercial real estate and construction sector is no exception and will need to adapt together with its tenants and clients.

Construction insurance market tightens though sufficient capacity exists

While availability and terms and conditions of Professional Indemnity (PI) insurance protection as well as Construction All Risks (CAR) cover are affected by greater frequency and severity of claims, there is still significant capacity in the London construction market if managed and brokered correctly. Even pandemic cover may be available soon for construction projects.

Bringing buildings back to life after the COVID-19 lockdown

While the current COVID-19 pandemic has emptied city centres, life will eventually get back to normal.

5 things to think about as building sites close due to COVID-19

Thousands of building sites in the UK are closing due to health risks from the COVID-19 outbreak, a task that involves taking a series of measures to keep the site safe during an unknown period. For construction firms this adds to a list of insurance-related issues that the pandemic is bringing up.

Protecting unoccupied property amidst COVID-19

Many of our real estate sector clients and their tenants will be following Government advice and have arranged for their employees to conduct business from home, rather than at their usual place of work. This is likely to become more widespread as time goes by, with a large number of premises becoming unoccupied or occupied intermittently.

Protecting businesses against flood risk

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.

Water damage claims rise in UK

Unless they are promptly detected and fixed, burst pipes can quickly cause a lot of damage to a property. This is not hard to understand when you consider that a burst pipe can release the equivalent of 50 bathtubs full of water in a single day.

Technology shifts the risk exposure of buildings

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.