Scott Vincent reports how potential climate change-related losses ratchet up pressure on policy wording.
Speaking to Insurance Day, Kevin Harding, a partner at RGL Forensics in London, commented how there were potential issues in the wording of denial-of-access terms, which are included in most commercial policies.
“If insureds do have this cover, the wording often refers to damage in the vicinity. The question is, what is the vicinity, particularly when the flooding has affected such a widespread area?”