Case study
Resolving Boundary Wall Dispute in Flood Claim
Overview: magenta was approached to handle a complex outstanding flood claim case exceeding £200,000. The claim involved a damaged boundary wall and raised issues concerning settlement amounts and betterment, resulting in a dispute between the client and the insurer.
Situation: The flood caused significant damage to the boundary wall of the insured property. While all other repairs were successfully completed and the site cleared of debris, the remaining issue was the replacement cost for the boundary wall. Insurers offered a settlement of £12,000, calculated based on the cost to rebuild the wall as it was prior to current building regulations. However, the client insisted that the replacement would cost £30,000 to comply with updated building regulations. This discrepancy led to the dispute, with the insurers arguing the lower amount was due to betterment considerations.
Challenges:
- Understanding the dispute over costs associated with updated building regulations and betterment.
- Ensuring the boundary wall was deemed safe to avoid further complications.
Outcome: The case highlighted the importance of addressing betterment-related challenges transparently while maintaining trust between insurers and clients. Magenta took the time to understand the exact position.
This case demonstrates Magenta's thorough referral process, allowing a solution for the insured.
Case study
Resolving Escape of Water Claim in Multi-Use Property
Overview: magenta was approached consider a complex new business proposal whereby the property suffered an escape of water claim. The property was a multi-use property comprising a main home occupied by the client’s family, an annexe occupied by the client, and an additional annexe let to professional tenants. The claim presented significant challenges, including substantial damage, high costs, and the need for thorough investigative work.
Situation: In October 2023, damage from improperly installed underground service pipes beneath the kitchen in the main house led to an escape of water. The resulting damage required the kitchen floor to be excavated, with additional harm sustained by the kitchen units. Furthermore, water overflow caused damage to the client’s section of the risk, affecting the annexe.
The excavation works incurred significant costs, with a claim payout of £92,000 due to the extent of the work required.
Challenges:
- Managing damages to multiple areas of a multi-use property.
Outcome: A full investigation was carried out by contractors to ensure no further complications or risks would arise. The case demonstrated Magenta’s commitment to providing support for those struggling amidst complex claims.
This claim highlights magenta’s ability to handle challenging situations with professionalism.
Case study
Risk Referral for Sedum Roof Property
Overview: magenta recently assessed a referral for a property with a unique characteristic: a roof that is 100% sedum. This eco-friendly design feature required a tailored underwriting approach to ensure proper coverage and risk assessment.
Situation: The property, constructed in 2024, comes with a 10-year NHBC certificate, offering reassurance about the build quality and adherence to construction standards. The referral was necessary due to the sedum roof, which presents specific considerations for insurers, particularly in relation to storm damage and maintenance requirements.
Outcome: magenta demonstrated its ability to address non-standard risks effectively. This case highlights the importance of tailoring insurance products to the unique attributes of a property while ensuring comprehensive coverage and maintaining competitive pricing.
