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DirectDevil

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Household insurance renewal received today from RSA. They seem to have added a lot of exclusions about claims involving asbestos.#

We have a shed with asbestos panels that was built around 1970. It is perfectly safe and sound i.e. well maintained, no breaks or damage.

Can they do this ? Is this something new in general ? Although the risk of anything happening is extremely low it seems that we might have to get rid of it if there is not gong to be insurance cover.

Any thoughts ?
 
Would be interesting to here is this becoming standard across all insurers now or just RSA. Maybe try another insurer look for a competitive quote and read fully their terms and conditions before buying to check are there any asbestos exclusions.
 
DirectDevil said:
Can they do this ? Is this something new in general ? Although the risk of anything happening is extremely low it seems that we might have to get rid of it if there is not gong to be insurance cover.

Any thoughts ?
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alot of insurers change the terms on renewal. As the policy is coming to an end they are highlighting their new terms in advance of you renewing the policy. You will find that if you were to purchase a new policy from them that these terms would be in the standard policy and that this is simply bringing existing customers to the same level.

I agree shop around if you don't like the terms but you may find all insurers will generally move to similar policy wordings over time.
 
Direct Devil;
Asbestos health claims are one of the large and difficult issues for insurers.
1. Can take years to show, but if claimant can show that he removed your roof in 2014 and contacted asbestosis illness in say 2034, he then has a claim.
2. Asbestos claims are always of high value, which is not much good to insurer or the poor ill person.
3. Am told that to buy Google ad word for Asbestosis is very dear because there are so many ongoing Asbestos claims.
4. In short Asbestos illness is one of those risks that Insurers cannot really gauge.The one thing they do know is that they are continually getting claims.

As you say your own risk is low and within your control.
Check asbestos risks before doing anything.
 
Thank you for posting this:
The current house policy is here: http://www.123.ie/downloads/rsahouseholdpolicy0114.pdf

The word appears 7 times, 5 in the definitions and twice in the 1 exclusion clause.

The exclusion is limited to Liability to Others arising from Asbestos or Asbestos Dust.
The definition of asbestos includes any material with asbestos in it.

What would concern me is that if you do decide to get rid of the material that you only use the properly registered folk and that they have the requisite insurance.

You cannot just get any old door to door guy to do it.

The way this is worded means that if a worker gets injured by a falling sheet of asbestos, you are not covered.

My advice to people with this stuff is get it removed properly and quietly.

ps I concur with GC's sentiments re the long term issues but if you read the policy I think a physical injury will be excluded.
 
Thanks for the replies.

We want to keep the policy with RSA as the terms are good at present !! As pointed out by other posters this will possibly become an industry standard so there is probably little point in changing only for the same thing to recur with another insurer.

I appreciate the point about the long term nature of asbestosis i.e. long period between initial exposure and presentation of symptoms. That said I presume that RSA will be considered as being the insurers for any asbestos liability for the period up to next renewal.

In relation to removal I understand that you have to get the job done by an authorised asbestos contractor who has to be registered with your local authority as being such.

Just one more headache to add to the joy of being a property owner :)
 
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