Sennocke provide facility for Japanese Knotweed Remediation companies
As an extension of the Build-Zone Warranty business, Sennocke have negotiated a Lloyd’s Insurance Backed Guarantee (IBG) facility for Japanese Knotweed Remediation companies without the need to have expensive membership of any association.
Japanese Knotweed is one of the major problems facing Developers and Builders currently. Many Lenders will not offer financial loans on properties or developments with Japanese Knotweed or a history of the plant. This has seriously affected the market… until now.
The most important aspect to consider when providing IBG’s is the financial stability and security of the Insurers themselves. Sennocke is working with some of the best Japanese Knotweed removal companies to guarantee the removal for up to 10 years by providing a IBG backed by Lloyd’s of London.
With Elite having gone under and with other unrated Insurers already gone and the remaining ones feeling the pinch – there is a requirement for Insurance Backed Guarantees for a range of industries.
Specialist Warranty provider SIIS, which also trades under SBZ and BZ, were the first Broker to provide Lloyd’s backed IBG’s to the Japanese Knotweed Contractor market.
Paul Kempton, Managing Director of Sennocke International Insurance Services, said:
“As Insurance Professionals we feel that it is important to make sure that you have insurers behind your products that are going to last the pace – too many unrated Insurers have now gone under for people to ignore the issue and with the latest (Elite) it has left a huge gap in the market and yet still Trade Bodies and Organisations are prepared to accept such Insurers.
We do not insist that you pay vast Membership Fees to join a Trade Body – this is all about you and how you run your business.
It is your choice of course at the end of the day but if you value your reputation it is not just a question of getting any old Insurer or the cheapest – you should want to offer the best and enhance your reputation and give your client greater peace of mind.”
Speak to the Build-Zone team today to find out more, www.build-zone.com.