Insurers to face increased risk of claims on covering high-rises with combustible cladding
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U.K.-based law firm Clyde and Co. L.L.P. said that the use of combustible cladding on the exterior of high-rise and commercial buildings in Australia will create difficulties for property, public liability and professional indemnity insurers to provide cover for such buildings in 2018, Asia Insurance Review reported. "The property and public liability insurers of such buildings will face increased risks of claims until the cladding is replaced," said Marcus O'Brien, insurance partner at Clyde and Co.'s Melbourne office. "There will also be increased claims by building professionals under their professional indemnity policies."
