If your company owns, develops, designs, builds, leases or advises on commercial property then you should be aware of the existence and benefits of latent defects insurance.
Our Role
At Building and Land Guarantees we specialise in the negotiation and placing of latent defects insurances. We arrange covers from small retail units up to major office/retail/industrial developments, across the globe.
We are involved with many of the most influential property developers and owners across the UK, providing specialist advice and quality service.
Partnership
We will work in partnership with your company to gain an understanding of your requirements and advise you on the solutions available. By working closely with you we can ensure you get the right cover at the right price.
The Way Forward
The traditional method of dealing with structural and weatherproofing risks is contractual, through collateral warranties. Latent defects insurance impacts significantly on the scope of such warranties. Once the property has been completed, the liability for building, developing or designing the property does not cease. Latent defects insurance is designed to transfer the ongoing defect risk to an insurer rather than being retained by the parties involved.
The Benefits to You
Principal benefits of this important over include:
We have access to specialist insurers with exclusive arrangements for this type of protection. This enables us to negotiate affordable policies on a flexible basis to meet your needs.
BLG were contacted by a national firm of Insolvency Practitioners concerning a development of properties in Leicestershire. The properties consisted of 4 separate blocks and totalled 25 units. The developer had been placed into Receivership at a time when the project had been completed for 2 years.
Read full case studyJames,
A pleasure. You guys were great to deal with and frankly the transaction would not have proceeded without your assistance for which all parties are very grateful.
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