BIBA Manifesto: Valuations and Underinsurance Guide

Since 2013, QuestGates has been the sole operator of BIBA’s Valuation Facility, whereby we provide an outlet for its broker members and their clients to ensure values at risk are maintained at an adequate level. In the years up to 2020, this collaboration between QuestGates and BIBA had led to a distinct reduction in the number of claims complicated by the discovery of under-insurance. Unfortunately, the combined impact of Brexit, the global pandemic and the uncertainty in Ukraine has put a spanner in the works to put it mildly!

As such, it’s hugely encouraging to see BIBA make even greater commitment to the cause by addressing the blight of underinsurance in this year’s manifesto – and to see Allianz add their weight behind it.

Together we’re working on a new no-nonsense guide to help brokers and consumers across both commercial and personal lines understand the importance of obtaining suitable valuations. It won’t be an encyclopedia or full of insurance jargon either, we promise!

We’re aiming to publish the new guide before the BIBA conference in May – so watch this space as hopefully it will provide a useful reference tool for you to point your partners and customers to.