Newsletter n°11
How do we insure our buildings
Insurance
Who is insured
We communicate to the insurer the qualification of the team to make sure we have the knowledge to cope with our activity. This is always taken into consideration by the insurance in the overall understanding of the risk.
What to insure
We prepare a report with a description of the building, photos and plans, as well as a valuation of the building.
The report is prepared by an architect and includes an overall building description and detailed photos to help understanding how the building is built and in which overall condition it is.
The valuation of the building is carried out by a specialist expert in insurance value (rebuilding value). In Geneva for example, we have a dedicated structure called the “Bureau d’Estimation des Bâtiments (BEB)” that provides this service. Insurers usually take into account the nature of the work and the cost of the work when redoing an appraisal.
The valuation is carried out in conjunction with the insurance company, which accompanies the surveyor on the visit; this helps to avoid a future potential disagreement between the valuer and the insurance.
SBP2 – Fire disaster
April 2022 : half the building burned down
October 2023 : reopening of the building
Reconstruction costs : covered by the insurance
Reconstruction
Additional measures taken over and above current regulations.
Construction measures
- Raising the fire wall that splits the building in two halves.
- Cast iron rainwater downpipes for the 5 first meters under the roof to avoid the pipes to melt in case of fire.
- Laying gravel on the roof.
- Fire-stop closures
- Creation of a dedicated inverter room. This room is fireproof and has an extinguishing system.
- A monitor that informs our security company if the electricity production stops
Technical measures
- Fire dampers.
- Linking the dampers to the fire extinguishing system.
- Automatic extinguishing system.
- Alarm transmission center.
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