Willis warns 7 in 10 businesses are underinsured
James Adams, head of valuation services at Willis, has warned businesses are increasingly at risk of being caught out by average clauses because outdated property valuations are failing to reflect rising rebuild costs.
“Depending on the location, this [underinsurance] is pretty much everywhere,” he said. Adams added that around 70% of valuations Willis conducts identify underinsurance, including one site that was
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