Choosing your A-Rated Latent Defects Insurance Provider
Over the last three years, a number of unrated insurers operating in the building warranty and latent defects market have been placed into liquidation or run-off. Latent Defect policies last for 10 or 12 years, meaning it’s even more essential to check the quality and financial standing of the insurer underwriting the policy.
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Rated Vs Unrated
Latent Defect Providers
A rating of “A” or better for an insurance company is important because it helps you judge which companies have the most firm financial footing. There isn’t a legal requirement for an insurer to be rated, and brokers aren’t required to only offer products and services from rated insurers – however we choose to do so in the best interest of our clients.
While “A rated” insurers are not immune to the risk of failure, the fact that they are rated by independent agencies can give comfort to a client that they are properly audited and funded.
At London Belgravia Brokers, our extensive panel of insurers are all underwritten by UK based, A-rated carriers.
We understand that many clients will have exisiting relationships with their general insurance brokers. However, in a specialist market such as Latent Defects Insurance, a specialist broker can offer clients expert and in-depth advice.
If you have an upcoming project and would like some advice on how best to manage your insurance risk, do give us a call on 0203 701 0422 and a member of our team will be happy to talk you through some options.
Would you like us to evaluate your project and find the most suitable A-Rated LDI provider?
London Belgravia Brokers Provide Risk and Insurance Advisory Solutions To Global Property Developers, Investors And High Net Worth Individuals. Our Areas Of Specialism Include Latent Defects, Contractors All Risk, Performance Bonds, Insurance Backed Guarantees, Developer Insolvency, And Loss Of Deposit Cover For The UK Property Market.