For over a decade, London Belgravia Group has supported developers in sourcing warranty and LDI cover that is suitable and represents the best value for money—something that is naturally welcomed by clients.
Regulatory changes and rising costs continue to impact project viability and a cost saving represented in warranty premiums makes a difference to projects of all sizes.
We spoke to Sales director at London Belgravia Group, Alex Limpenny, who has been a part of the business since 2019. He manages a team of 10 and operates across the core and major projects departments and is instrumental in the growth of the workforce.
“Part of being a broker is making the client see the value in our service—because it does save them time and money,” Alex explains.
“For SMEs, their internal resources can’t be expected to cover every provider for every project, never mind taking into consideration insurer ratings, appetite and policy nuances. It’s our job to capture this and present their options transparently.”
What was once a relatively binary sector, dominated by a couple of providers, has now opened to reveal a range of options that reflect a competitive marketplace.
“Our four, distinct departments within London Belgravia Group really provide an end-to-end solution and differentiate us as a firm,” Alex says. “From knowledge of the providers and insurance market as a whole, to dealing with building control and issuing certificates on time—our work doesn’t stop after the policy is in place.”
More and more, Alex is finding that developers want to talk to someone who can tailor a policy to their specific requirements and project circumstances, on the correct bases. As awareness improves, they are discovering that their existing offering may, quite simply, no longer be the best fit—for that scheme or in general.
“We ensure that clients understand the difference between the various quotes, taking them through exclusions and conditions that can impact them now and in the future.”
Among these important factors is rating of an insurer and how that affects a property’s mortgageability, and whether the policy is being underwritten with a PG or company liability—and what that means in real terms for the developer.
“We see ourselves as an extension of the businesses we work with, providing peace of mind that the right solutions are being put in place.”
The current housebuilding environment has led to more complex scenarios, and Alex is keen to express that London Belgravia Group does not shy away from using their experience to support across these, too.
“We are seeing more part-complete projects, for example, where there has been a change in contractor; these present a challenge in how the liability for the work already completed is treated. We know the providers who will consider insuring these cases, and how to package the information correctly for maximum success,” Alex states.
The market has moved on, and London Belgravia Group is pleased to continue to take up the role of educating and supporting developers, housebuilders and housing associations through the changes and beneficial outcomes.
“We understand the challenges and pain points—and the opportunities—that face housebuilders and contractors and we want to do our part in ensuring that everything is in place to facilitate a smooth project programme and sales process.”
