At the moment, business costs are climbing, with budgets being stretched further than ever, constantly under scrutiny. Plumbers are one set of traders that are being hit in the bank account, and as much as possible, plumbers will want to cut down on all unnecessary expenses. Continue reading “Why do you need Plumbing and Heating liability insurance?”
Common in the construction and real estate industries, performance insurance bonds provide security to parties in the event that a project fails to reach completion. Following a bid process, the successful contractor will typically provide their client with a performance insurance bond. If the contractors fail to successfully complete the project, perhaps due to bankruptcy or a loss of workforce, the client can obtain compensation up to the value of the insurance bond.
Continue reading “How to save money on performance insurance bonds”
If you are working in the construction industry, then it is crucial that you do invest in insurance for your property development. This will protect you from financial issues that could cripple a project and ultimately your business. There are a variety of issues that you can face with property insurance so let’s look at how to solve these the right way. First, it’s important that you understand what property development insurance is and how it can help you.
Continue reading “How to solve issues with property development insurance”
Contract works insurance is an insurance policy that all banks and lenders are now asking for if you are a property developer or an individual doing a self-build and you are borrowing money, more than likely you will need a contract works insurance to satisfy the lender.
Legal Indemnity Insurance is a procedure which has the ability to protect you if there is ever any action taken against you with regards to a legal defect. An example of a legal defect could include the absence of planning permission for a patch of land or a restricted agreement that might limit any work being carried out on a property.
For property developers, having to get everything in line sometimes to pacify lenders can be a real headache! Lenders want the lot when it comes to insurances to protect their funding, rightly so!Therefore, they are fully up to speed when it comes to insurance and requesting the correct policies that will protect their and their clients’ money and making sure these documents are noted and read as well as they need to be for them to be accepted.
This week we have had a few examples of different styles of property developments which in theory are very similar, but all have required different property developer’s insurance for certain reasons.
Continue reading “How do I Know what Property Developers Insurance is Required?”
Why is it important for property developers to take out contingent cover against building contractors insurance policies?
Contingent Insurance for developers is becoming more of the norm nowadays after increasing claims are failing due to contractors having inadequate insurance.
Continue reading “Owner Controlled Contingency Insurance Program”
Professional Indemnity Insurance for Building Contractors
We had a call recently from a building contractor regarding Professional indemnity (P.I.) Insurance cover. The reason for the enquiry was primarily due to the fact the contractor was also providing a small degree of surveying and architectural services which typically warrants professional indemnity insurance cover, covering against defective design.
A lot of people carry personal new year resolutions, but what about your company, what resolutions do you have for this?
Continue reading “Insurance New Year’s Resolution for Property Developers”