The International Underwriting Association (IUA) in collaboration with the Department for Levelling Up, Housing and Communities (DLUHC) has published a new model insurance clause covering fire safety risks.
The model clause is freely available for use by underwriters looking to provide professional indemnity insurance for building cladding remediation work.
The clause aims to help speed up the removal of unsafe cladding, encourage a greater safety culture within the construction industry and provide insurers with increased confidence in risk management processes employed by the construction sector.
The IUA press release can be found here. Copies of the IUA Building Safety Fund Cladding and Fire Safety Limited Exclusion and Aggregation Clause are freely available to download from the association’s model clauses website (www.iuaclauses.co.uk).