Build-Zone add new A-Rated insurer to their panel
Build-Zone is delighted to announce the first of several new capacity partnerships. Build-Zone’s deal with XL Catlin Insurance Company (UK) Ltd (part of AXA XL, the specialist division of the AXA Group of Companies) means we have been able to enhance our range of insurance products.
Build-Zone continues to offer A-Rated Structural Warranties for New Home, Commercial, Mixed-Use, Build-to-Rent & Social Housing with an extensive panel of insurers putting themselves ahead of most of their competitors in the market.
As many will know, one of the biggest insurers of Structural Warranty, Canopius, withdrew from the market earlier this year, leaving some warranty providers without insurance backing. Some have still not found direct replacements and are relying on sub-delegated arrangements from others and therefore do not have a direct relationship with the insurer. Others have had to resort to using unrated insurers.
The use of unrated insurers has always been an issue in the Latent Defect market due to the length of cover typically being 10 or 12 years, unlike many other insurance policies, which are annual.
It was only in 2018 that Alpha went into liquidation leaving thousands without Structural Warranties and, in most cases, having to purchase a new policy without any refund from insurers. This shows just how important it is to use A-Rated insurers for long term warranties.
‘Thanks to our new partnership with XL Catlin Insurance Company (UK) Ltd, part of AXA XL, Build-Zone’s customers benefit from the security of having one of the world’s leading insurers in such uncertain times. It offers reassurance to housebuilders and developers and is a fantastic addition to Build-Zone’s insurer panel’
- Director of Build-Zone, Ash Poore
Contact Build-Zone directly to get a quote or discuss your projects requirements
www.buildzone.com or call 0345 230 9873