Navigating a premium transfer to secure warranty cover for a 47-Unit Norfolk development

Protecting developments today. Powering the communities of tomorrow.

The challenge arose not from the current scheme itself, but from a previous one. In the year prior, LBB consultant Jack Spear had arranged structural warranty cover through ICW for a separate Holkham Estates development comprising 12 new-build houses. That scheme had since been placed on hold as the Land off Mill Road project became the client’s immediate priority. The client needed to recover the premiums already paid on the paused 12-unit policy in order to fund the warranty cover required for the new development — but a straightforward cancellation would have triggered cancellation charges, eroding the funds available.

LBB’s Approach

Rather than accepting cancellation as the default route, Jack Spear proposed a more commercially advantageous solution. He negotiated directly with ICW to arrange an internal transfer of the premium held on the 12-unit policy across to the new Land off Mill Road policy. By keeping the funds within ICW rather than triggering a cancellation and reissuance, the client avoided unnecessary charges while maintaining continuity of cover with the same insurer. 

Jack also instructed ICW Combined Building Control on this site, further streamlining requirements. 

This approach required a clear understanding of ICW’s internal processes and the confidence to propose a non-standard mechanism on the client’s behalf — hallmarks of LBB’s market knowledge and insurer relationships. The outcome delivered a direct cost saving to the client and ensured the warranty placement for the priority development could proceed without financial disruption.

Outcome

• Internal premium transfer negotiated with ICW, avoiding cancellation charges
• Warranty cover secured for 47 new-build houses at Wells-next-the-Sea
• 10- and 12-year social housing structural warranty placed with ICW on favourable terms
• Continuity of insurer relationship maintained across both developments
• Direct cost saving delivered to the client through a practical, market-informed solution

The Land off Mill Road case demonstrates how LBB’s depth of insurer knowledge extends beyond simply placing cover. By identifying a workable alternative to cancellation, the LBB team delivered a commercially beneficial outcome that supported the client’s project priorities without unnecessary cost or disruption.