Build-Zone urge Alpha Insurance A/S policyholders or those who think they will have their buildings protected by a Structural Warranty upon ‘completion’ to speak to Insurance Professionals who understand why you should only use A-rated Insurers following Alpha’s bankruptcy.

Following the breaking news that yet another unrated insurance company Alpha Insurance A/S has been declared bankrupt. Build-Zone are urging potential /Alpha Insurance Structural Warranty policyholders to speak to them for guidance.

man holding paper that says are you covered

Alpha fell into trouble after its reinsurance partner CBL Insurance Limited suffered its own solvency problems.  The Danish compensation fund for failed insurers will help pay Alpha claims, however, the Guarantee Fund will only cover claims for Alpha which were filed just before the bankruptcy, and until four weeks after (5 June 2018). Existing Structural Warranty policyholders with Alpha may have some protection under the FSCS – but only in specific cases and then only for 90% of the claim.

And it is not just Structural Warranty policyholders. As reported by the BBC, the news of Alpha Insurance A/S going into bankruptcy has caused chaos amongst their policyholders. Thousands of London taxi and minicab drivers received a text message telling them their insurance had been cancelled and are now scrambling to get covered and they are not the only ones.

Build-Zone have always said and maintained that everyone who buys Structural Warranties should only do so from A-Rated Insurers as it is a long-term insurance policy.

We can offer a choice of A-rated Insurers and high capacity/limits are available.

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STA Quality Assurance Scheme products and services recognised by Build-Zone

Build-Zone are pleased to announce that their Warranties recognise the Structural Timber Association Quality Scheme and accept those members, that have achieved silver and gold accreditation, will meet their warranty requirements.

As the UK’s leading organisation representing the structural timber sector and associated supply chain companies, the STA has an objective to drive quality and product innovation through expert technical guidance and research – underpinned by education, training and event programmes.

As the largest UK trade association within the structural timber sector, there are a host of reasons why construction professionals and self-builders should choose to use STA members.

The STA’s mission is to enhance quality and drive product innovation through technical guidance and research, underpinned by a members’ quality standard assessment – the STA Assure Membership and Quality Standards Scheme.

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Build-Zone again emphasize and encourage the use of A-Rated Insurers after Alpha Insurance A/S cease underwriting

Build-Zone have always said and maintained that everyone who buys Structural Warranties should only do so from A-Rated Insurers as it is a long-term insurance policy. We can offer a choice of A-rated Insurers and high capacity/limits are available.

man holding insurance document

Danish unrated insurer Alpha Insurance has gone into solvent liquidation. An announcement on the insurer’s website blamed CBL Insurance for the failure.

It stated: “Effective immediately, Alpha Insurance A/S has ceased all underwriting, including renewals.

“This decision is a direct consequence of CBL Insurance Limited, one of Alpha Insurance’s largest reinsurers, having had their AM Best A- rating suspended and has been placed into interim liquidation.”

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Two-thirds of house builders investing in modular

More than two-thirds of house builders are investing in modular construction, a new study has found.

modular building

Lloyds Bank’s latest annual housebuilding report, released today, reveals that 68% of firms are investing in modular housing, while 56% are putting cash into panelised systems of construction.

Average investment in new building techniques is now 24% of turnover, up from 20% five years ago.

The report also found that more than half of house builders say affordable housing obligations give them cause for concern – with 45% saying they are able to meet thresholds but are worried about the impact on profits and another 7% saying meeting affordable housing policies has an “unduly negative effect on margins”.

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