Serving you better
Perils of retrofitting existing assets
Lecture
Publication date:
30 January 2025
Last updated:
20 March 2025
Author(s):
Mark Almond GCGI MCMI Cert CII MIFPO EngTech FIFireE, Senior Technical Property Risk Engineer, Zurich Resilience Solutions
In this Insurance Institute of London (IIL) real estate webinar, Mark Almond GCGI MCMI Cert CII MIFPO EngTech FIFireE, Senior Technical Property Risk Engineer, Zurich Resilience Solutions, talked about the emerging risks including photovoltaic (PV) & electric vehicles (EV) systems, battery energy storage systems (BESS) and how adding additional materials to a building to achieve a more sustainable use increases the overall risk profile of a building going through refurbishment.
Many premises have existed for a significant time, and most will have survived for years without any severe material property loss. As insurers, however, we have a keen sense of the built environment's risks and how this evolves over time. With increasing pressures on budget allocations and funding streams, building refurbishment and reinstatement may be considered more viable and achievable.
Major refurbishment projects involving retrofitting or adding materials/services or equipment can increase risk. This is because there is a lack of understanding between the contractor and the client on how installing something can have a detrimental effect and consequence on the building structure, or refurbishment process, as they strive to create a more sustainable building.
Learning objectives:
- Understand the meaning of sustainable construction and the challenges/solutions to reduce risk
- Know the types of materials/services installed as part of the retrofitting landscape
- Controls and guidance to reduce risk