Latent Defects Insurance

Posted on 5th December 2006

Senior staff at FRD Risk Solutions have over 13 years experience in providing insurance warranties to the construction industry in the UK. This enables us to provide you with comprehensive cover at a competitive premium.

 

Key features of Latent Defects Insurance

• 10 or 12 years non-cancelable cover with a one off    single premium
• Insurers pay if physical damage occurs-there is    no need to prove fault or resort to litigation
• Cover for defect due to faulty design, workmanship or materials
• Available for new and partially completed housing, commercial and industrial    buildings (Completed projects can also be considered)
• Cover is freely assignable to any party with financial interest
• Automatic cover for Professional Fees, Debris removal costs, compliance with public authority    requirements
• Independent technical audit carried out by construction professionals on each project to    review design considerations, suitability or materials and monitor workmanship on site

 

Optional Extensions 

• Cover is available on a project-by-project basis for: -
• Consequential losses following as insured Latent Defect
• Ingress of water 12 months after practical completion
• Waterproofing of basement areas
• Non-structural elements
• Mechanical and electrical services
• Index-linking of sum insured
• Waiver of Insurer’s rights of recovery if a defect arises against any of the following: -
     • Main Contractor/Specialist Sub-Contractors
     • Architect
     • Structural Engineer

 

If you would like more information then please either contact us or use our online enquiry form.