[2002] Lloyd’s Rep IR 230

Tim acted for the Claimants in a claim against their insurance brokers relating to the under-insurance of the Claimants’ factory, which was damaged in a fire.

Insurance (property) – Insurance broker – Property undervalued at start of development work – Average Clause in policy – Fire caused partial loss – Whether brokers liable for shortfall – Whether brokers under a duty to advise claimants to have property revalued during course of works – Whether brokers negligent in failing to advise clients to insure building due to be demolished for costs of removal of rubble only.