Building Safety Act
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The Association of British Insurers (ABI) has today (13th March 2024) announced a risk-pooling Fire Safety Reinsurance Facility, with cover starting from 1st April 2024.
Reinsurance support is now in place to launch the Fire Safety Reinsurance Facility, in an industry intervention to help improve the availability of insurance for certain buildings with combustible cladding and other fire safety issues.
The Facility has been established by (re)insurance broker McGill and Partners with extensive support from the Association of British Insurers (ABI) and through working in partnership with the British Insurance Brokers’ Association (BIBA) which will ensure brokers are made aware of the Facility.
It has two key intentions - to expand capacity for insurers already writing business for affected buildings and to encourage competition across the market so that more firms will provide cover. The ultimate solution remains the urgent need for works to take place to make buildings safe and resilient. The Facility is expected to run for three to five years whilst this happens.
The first step will be for the participating insurers – Allianz, Aviva, Axa, RSA and Zurich – to enter higher-risk buildings they currently insure, and which are awaiting remediation works, into the Facility at the point of their annual renewal. These firms have continued to be active in the market and are the top five firms providing insurance cover for commercial and residential buildings.
The Grenfell tragedy and Dame Judith Hackitt Review exposed significant construction and fire-risk issues related to these buildings. As a result, insurers have to consider the heightened risk of an entire building sadly being destroyed in the event of a fire and have had to limit the amount of cover they could provide, because the risk is too high for one firm to cover on its own. Brokers, Freeholders and Managing Agents have instead had to source insurance cover from multiple firms, meaning that several insurers are involved in covering one building, creating a ‘layered’ effect and adding to the cost. It is these buildings which will likely benefit most from the Facility.
Buildings insurance premiums will continue to be based on a variety of risk factors, such as the type and age of the building, previous claims history and other property risks such as storm/flooding or escape of water. External factors such as construction costs and supply shortages will also have an impact
More information and FAQS on how the Facility will work is available here and information for brokers representing affected buildings is available from the BIBA.
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The below is an extract from an advertorial feature in The Guardian, published 1st February 2024.
‘The Building Safety Regulator was set up in the aftermath of the Grenfell Tower fire and aims to give greater protection to residents of high-rise buildings. One of its building safety leads explains his role in the drive to improve standards in the design and management of tower blocks:
“It’s completely different from the Health and Safety Executive’s usual focus,” says BSR’s building safety regulatory lead, Daniel Lewis-Hickinbotham. “Classically, HSE is business-focused, but by creating BSR, it’s now protecting people in their homes. For me, it’s a much more emotive area of work, because people’s homes are where they feel the most comfortable – it’s their safe place.”
BSR is tasked with assessing the safety of approximately 12,500 higher-risk buildings – those that are seven storeys high or at least 18 metres tall, with two or more residential units – over the next five years.
“Once we’ve received the required information [for the Building Assment Certificate application], we’ll form a multidisciplinary team with the fire service and a structural engineer to make an assessment of the building and a decision on whether or not to issue a building assessment certificate,” says Lewis-Hickinbotham. “Our focus is on making sure residents are safe in their homes, and that the people managing these buildings are responsible for doing it appropriately.”
There’s a big learning curve ahead. “It’s a completely new regime, and these are standards that haven’t been in place before,” says Lewis-Hickinbotham, but he and his team are excited about the challenges to come.
Read the full article here: https://www.theguardian.com/working-for-the-building-safety-regulator/2024/feb/01/our-focus-is-on-making-sure-residents-are-safe-regulating-high-rise-buildings-after-the-grenfell-tragedy
- Building Safety Regulator
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The government has made and laid before Parliament the Building (Registered Building Control Approvers etc) (England) Regulations 2024 (SI 2024/110), which come into force on 6 April 2024, in England only.
The regulations set out the procedures that apply when a registered building control approver supervises work under the building regulations in England.
From 6 April, the role of the approved inspector under the building regulations will be replaced by that of the registered building control approver (except in relation to some transitional projects).
These new regulations effectively perform the same function for a registered building control approver as the Building (Approved Inspectors etc) Regulations 2010 (SI 2010/2215) performed for an approved inspector. As such, practitioners will recognise much of their structure and content.
- Building Safety Act
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The government has made the Building Safety Act 2022 (Commencement No 7 and Transitional Provisions) Regulations 2024 (SI 2024/104), which come into force on 6 April 2024.
The regulations will bring into force various provisions of the Building Safety Act 2022 (BSA 2022) that amend the Building Act 1984 (BA 1984) to:
• Provide for the switch from approved inspectors to registered building control approvers under the building regulations regime in England
• Set out transitional provisions dealing with projects that are ongoing under the auspices of an approved inspector.The Welsh Government has separate powers to commence these aspects of the BSA 2022 for Wales.
Industry will be unsurprised by the coming into force of these new regulations on 6 April 2024, which had already been publicised as the date by which approved inspectors would be replaced by registered building control approvers. It is also a significant date in relation to ongoing projects because it marks the deadline by which work must have "sufficiently progressed" in order to continue to benefit from the transitional arrangements that apply to building projects under the new building control regime.
- Building Safety Act
- Legislation, Regulations & Guidance
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This webinar was about occupied residential buildings that meet the definition in Part 4 of the Building Safety Act and was delivered by Andrew Saunders and Josh Paulin of the BSR. It was delivered to TPI members as part of our building safety series with the HSE.
You can view the webinar, and find links to resources discussed during the session, here.
- Building Safety Act
- Legislation, Regulations & Guidance