Majority of insured losses from Grenfell Tower to be borne by reinsurance

Grenfell Tower
twitter.com/LondonFire

The Norwegian company responsible for insuring the Grenfell Tower, which burned down yesterday, said reinsurers will bear the majority of the claims costs.

Protector Forsikring said losses from the fire would not hamper its growth plans in the UK.

The insurer won a tender to provide insurance to a Tri-borough group of London councils, comprising

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ABI insists fire safety scheme is temporary

Mervyn Skeet, the Association of British Insurers’ director of general insurance, has outlined how the trade body will ensure the Fire Safety Reinsurance Scheme will only last three to five years, and how it will should end criticism of brokers earning commission for arranging cover.

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