Brexit & Structural Warranties: Build-Zone has become a major force in the provision of Structural Warranties having started in 2003. Build-Zone were one of the first providers to achieve Designated Warranty Provider status by the Department of Communities and Local Government.
Build-Zone uses an in-house Technical Services Company – Build Zone Survey Services Ltd (BZSS), which operates separately under different management and can provide or arrange Building Control and other Technical Inspections using rigorously checked and audited construction professionals and “Approved Inspectors”, all of whom have to agree to specific Consultancy Agreements.
So what about BREXIT? Are there other things that you need to consider?
So far as Passported Insurers operating and accepting risks in the UK are concerned – Brexit will not make much difference, certainly initially, for example those Insurers based in places such as Gibraltar wanting to do business in the UK.
However, with regards to covering risks based within the EU then they will have to qualify and be compliant with Solvency II.
What is ‘Solvency II’ and what does it mean for Policyholders?
New rules which came into force in 2016 hopefully ensure a uniform and enhanced level of policyholder protection across the EU.
The new framework – like the current rules – applies to the majority of EU Insurers and Reinsurers.