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”
This week we successfully put together an insurance policy for a Scaffolding Company whereby their existing insurance with their current broker was scattered over several policies. Continue reading “Scaffolder Insurance Solutions”
We had a great example this week of a steel erectors insurance policy being pretty much a very expensive bit of paper, which would have turned out even more expensive if a claim had been made. Continue reading “Assisting with Steel Erectors Insurance”
With Brexit on the horizon and with its conclusion still extremely unclear, more and more people are looking to take on renovation or construction projects rather than sell their houses. This week, a client came to us completely unsure of what policies they would need for their upcoming project. Continue reading “Guiding our clients through Construction Insurance options”