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New building safety law heightens risk of construction claims

Posted On: Nov. 25, 2022 9:58 AM CST

According to specialist insurance disputes solicitor Fenchurch Law, the latest changes in the U.K.’s Building Safety Act 2022 have increased the exposure of property owners, leasers, developers, construction companies and their insurers to cladding-related claims, Commercial Risk reported. Among other things, the new law, set to be implemented over the next two years, has extended the limitation period for claims retrospectively, increasing the exposure of property developers and their insurers.