There have been a number of surveys that have highlighted underinsurance in the corporate market, with a heavy emphasis on business interruption and property reinstatement. But another insurable cost is often over-looked, that of plant machinery repair and replacement.
As part of a series looking at Expertise in Action, in this video, Peter Clark, head of property at Zurich Insurance, speaks to Post editor-in-chief Jonathan Swift about the extent of this problem and how much of it is due to a false perception that the global downturn is making everything cheaper.
He also explains when the best time is for brokers to help their clients address the issue of underinsurance, and addresses the question of whether plant underinsurance can be addressed as a stand-alone entity or if it needs to be looked at in conjunction with business interruption and property for the best holistic solution.
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