In an industry facing uncertainty, structural warranty provider Premier Guarantee has welcomed HSB to its insurer panel
As insurance backing and PI cover faces instability, structural warranty specialist Premier Guarantee has welcomed HSB to its insurer panel.
With an AM Best rating of A++ (Superior), HSB is a leading specialist provider of engineering and technology insurance. Part of the global HSB Group, HSB specialises in construction and equipment breakdown covers in the UK, which includes experience in latent defects and machinery inherent defects insurance.
Established for more than 20 years, Premier Guarantee works with a panel of A-rated insurers to provide construction related warranty/latent defect cover and boasts one of largest national networks of risk management surveyors in the UK.
‘Hit the ground running’
Gary Devaney, chairman and chief executive of Premier Guarantee, said: “The industry needs good news at the moment and our partnership with HSB puts us in an excellent position to hit the road running as the construction market picks up after a very difficult few months for all.
“It enables us to extend the range of products and services we are able to offer in the warranty and building control markets via brokers and directly to clients and homeowners.
“We are also looking to bring some exciting new schemes to market.”
Stephen Worrall, managing director at HSB, commented: “We are delighted to be working with Premier Guarantee to provide latent defects and machinery inherent defects insurance to their customers.
“By combining our specialist insurance knowledge and experience with Premier Guarantee’s expertise in the building control and warranty markets, we are building a strategic relationship focused on delivering customer-focused insurance solutions.”
New product offering
The partnership underlines Premier Guarantee’s capacity and financial limits to cover a range of developments from low rise housing to high-rise residential and commercial projects through its insurance panel.
A range of policies provide tailored cover for different tenure types, from outright sale to private rental and social housing.
The HSB partnership also allows Premier Guarantee to provide new products, such as machinery inherent defects cover which protects any mechanical and electrical services equipment against the risk of equipment damage from an inherent fault.
The structural warranty provider has invested heavily in new technology to provide greater transparency and reporting to support high standards in construction. Handheld devices provide on-site construction data and housebuilders can monitor performance via an online reporting dashboard.