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COVID-19 Customer Update  20/12/21

Following the Scottish Government announcement on Tuesday 14th December 2021 regarding continued COVID -19 restrictions, we are providing the following update.

Office Closure

We have made the decision to return to working from home for the majority of our staff from Wednesday 22nd December.  This is to protect the safety of our staff and comply with Government guidelines to help reduce the risk of transmission of Coronavirus.  We will continue to have a small presence in each office to ensure we can carry out essential functions.  For those staff who remain working from the office, they will continue to follow the safety guidelines which include wearing face covering while moving through the office, hand sanitising as required and cleaning of hard surfaces on a regular basis.  All locations will be closed to the public until the transmission rate returns to a lower level and Government guidance relaxing restrictions is issued.

Site Inspections

Our Development Managers will continue to carry out site visits during this period.  Whilst carrying out internal inspections, we politely request that social distancing measures are respected.   The frequency of your site visits will be detailed on your Development Schedule which is available on your JG+ account.

AGMs/Residents Meetings

AGMs/Residents Meetings will continue through online platforms.  If any face to face meetings have been scheduled for early 2022, your Development Manager will be in touch to reorganise this meeting to online.

On-Site Offices

On-site offices remain open where House Managers and Concierge continue their normal working hours.  Please respect social distancing when visiting our on-site staff.

Suppliers and Contractors

Our suppliers and contractors remain compliant with Government Guidelines to deliver core services, repairs and maintenance.

Email Communication

Our aim is to communicate with you via email wherever possible. We ask that homeowners, who have not already done so, contact their regional office detailed at the bottom of the page to provide us with their email address. We recognise that some homeowners will not have this form of communication and you may wish to discuss with friends or family members, if they can assist.

James Gibb+ Portal

For general information regarding your development or the status of your service charge account, please logon to your client portal JG+ which can be accessed via our website at www.jamesgibb.co.uk. You will need your James Gibb account number and your JG+ Ref to log on. These are available on your most recent invoice or on most formal communications you receive from us.

We hope that our customers and clients are keeping safe.

Regards

Directors Office

Block Insurance: How do we manage and allocate premiums etc?

Each year, we consult with our brokers (Marsh), in advance of our renewal date of 28th May, to ensure we secure the best deal for our customers. The best deal is, of course, a combination of cost, level of cover and quality/speed of claims response. In recent years, we have secured our policy with the insurer Allianz who have been able to offer each key requirement noted above.

When quoting for portfolio insurance products, our brokers/insurers follow standard industry practice by providing one quotation for the whole portfolio. Their resultant quotation is calculated by considering the total declared value (or sum insured) of the whole portfolio and assessing the recent claims history. Each development is allocated an insurance ‘rate’ which is set by our broker, at the outset of our management of the development. The development rate takes into account various risk factors such as postcode, flood plains and claims experience of the development and is reviewed each year by us and our broker.

This standard method allows our customers to enjoy the benefits of collective buying power in the insurance market without being negatively affected by higher claims in another development.

For example, here is a hypothetical table showing the breakdown of the insurer’s annual premium of 12,217.74.

 

 

In this hypothetical situation, let’s assume that, during the year, Development 5 had a significant number of high value claims and developments 1 – 4 had only low-level claims.

Because of the combined high claims value, our insurers increased our overall renewal premium for the following year by 2.2% where, had the overall claims been lower, a generic increase of 2% would have been applied.

The following table shows how the premiums may be allocated for the following year. (For the purpose of simplicity, we will assume here, that there is no index linked increase in the sum insured).

 

 

 

In this table, the overall premium has increase by 2.2% but the developments that suffered minor losses have had their rates altered to include a generic increase of only 2%. Development 5, on the other hand, has had its rate increase by a higher percentage to cover the additional premium costs.

By calculating individual development premiums in this way, our customers benefit from a value lead individual block policy whilst ensuring that there is no penalty for high claims elsewhere in the portfolio. After the premium calculations have been completed at renewal, insurance premium tax (IPT) currently at 12% must be added to each premium.

In addition to this, our brokers set the excess levels for each development. These tend to be fairly consistent but where we have developments with high levels of ‘escape of water between properties’ for example, excesses may be increased to ensure claims remain at a manageable level and to encourage good maintenance of individual apartments. This, in turn, helps to maintain attractive premium levels in forthcoming renewals.

If you’d like to find out more about Block Insurance, do not hesitate to contact any one of our offices.

Out of Hours Emergency. Call us on 0333 240 8325 where our helpline operators will assist you

Aberdeen

2 Thistle Street
Aberdeen 
AB10 1XZ

aberdeen@jamesgibb.co.uk

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Bellahouston

Bellahouston Business Centre
423 Paisley Road West
Glasgow, G51 1PZ

glasgow@jamesgibb.co.uk

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Dundee

Gemini Crescent
Dundee Technology Park
Dundee DD2 1SW

dundee@jamesgibb.co.uk

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Edinburgh

4 Atholl Place
Edinburgh
EH3 8HT

edinburgh@jamesgibb.co.uk

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Glasgow

65 Greendyke Street
Glasgow
G1 5PX

glasgow@jamesgibb.co.uk

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