We have a duty of disclosure to our insurers to declare any material change in risk which may increase the insurer's exposure. Failure to notify insurers of any known increase in risk may result in coverage being denied or withdrawn.
For this reason, the beneficial steward of the asset is required to submit a Fire Impairment Notice to insurers whenever fire protection or detection systems are down for a period of time, including when down for scheduled maintenance.
A copy of the current notice is available from this link Fire Impairment Notice. Section 1 of the form must be completed and distributed in accordance with the form’s instructions. Section 2 is to be completed when the fire protection or detection system is operational.
The Synod is required to provide insurers with accurate values for the building that it insures. The responsibility for providing such valuations rests with the beneficial steward (user) of the property asset, however the Risk and Insurance team is able to assist you in the valuation selection process.
Insurance valuations differ from real estate market values as they focus only upon the cost to physical reinstatement of the structure (plus associated professional fees and debris removal costs) and not the value of the land. Only valuations provided by professional licensed valuers (who have been approved by the Insurance Manager) will be considered for insurance purposes.
For further information please contact the Risk and Insurance Services team.