Leading UK 10-year structural warranty provider, Build-Zone, has secured backing from AXA XL CIC (UK) Ltd, part of the AXA group
Build-Zone, the trading style of Sennocke International Insurance Services and one of the leading 10-year structural warranty providers in the UK, has gained backing from AXA XL Catlin Insurance Company UK Ltd.
The collaboration means Build-Zone will continue to offer A-rated backed warranties for new home, commercial, mixed-use, Build-to-Rent, social housing, self-build and custom build schemes together with their technical services company, Build-Zone Survey Services Ltd.
Customers will benefit from the security of having one of the leading insurers behind their structural warranty policies, and be safe in the knowledge that the Build-Zone Warranty and Technical Services teams are there to help and work with them in such uncertain times.
The importance of A-rated security
Paul Kempton, managing director at Build-Zone, said: “We are delighted that Build-Zone has a new and highly respected A-rated Insurer.
“This follows after two of the key insurers of structural warranties – Canopius and Amtrust International – removed themselves from the market earlier this year, leaving many warranty providers without insurance backing and it has got worse with the announcement this week that Allianz are withdrawing from BLP in November.
“As a consequence of this shift in the market some have still yet to find adequate replacements or have had to resort to using unrated and unknown insurers.”
Kempton added: “The market will also remember Alpha going into liquidation in 2019, leaving thousands without the cover that they (and their Lenders) thought they had resulting in the purchase of new policies and the additional costs that go with it.
“This was just one of many examples that highlight the importance of using A-rated security when considering long-term policies like Latent Defects Insurance.”