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APPOINTMENTS & NEWS
• Structural Defects Insurance Period: Three to 10 years
During the structural defects insurance period, developers are responsible for major structural problems such as load-bearing floors/walls, foundations, the roof structure, ceilings and chimneys.
WHAT IS COVERED UNDER STRUCTURAL DEFECTS INSURANCE? Generally, these insurance policies cover structural defects due to defective design, materials or quality. These can be issues related to poor ground conditions, damage caused by incorrect or poor-standard construction methods and the cost of correcting or remedying faulty construction.
Features to consider when choosing a structural defects insurance provider for new build housing developments built for residential sale: • 10 year residential development structural defects insurance policy, backed by financially secure A-rated insurers
• Part of a Consumer Code • Accepted by the majority of lenders in the UK and an associate of UK Finance
• Fast quotation turnaround
• Quick response from professional, nationwide technical auditing or survey service
• Flexible payment method • Full risk transfer in years three to 10 of cover
• Cover as standard for alternative accommodation, additional costs, debris removal, and professional fees.
BUILD TO RENT SCHEMES
Other types of cover include inherent/ latent defects policies for Build to Rent Schemes. Many house developers are choosing to expand their offerings into the Build to Rent (BtR) sector, contributing to the increasing number of opportunities emerging in key cities across the UK. BtR involves the creation of residential properties expressly for rent and not for sale to individual homeowners. Structural defects insurance for BtR schemes works slightly differently from new homes built for residential sales as there is no lender requirement or code of conduct.
As this sector grows and evolves, Build
to Rent is poised to become a key player in meeting the UK’s housing requirements and defining the future of renting. Features to consider when choosing a structural defects insurance provider for Build to Rent developments include:
• Long-term ‘A’ rated insurer capacity • Single structure limits available in excess of £300m
• Cover offered on a Full Value Reinstatement Basis, with no inner financial limits
• 10 or 12 year policy period • Loss of rent cover • Each project is individually underwritten and technically appraised, meaning that there is no technical manual to adhere to – giving you greater creativity in the scheme’s design
• An in-house technical team and independent auditors will provide input and advice from the design stage to practical completion.
Structural defects insurance policies provide security and protection against structural defects and enhance a developer’s reputation by demonstrating a commitment to quality and customer care. Housing developers can ensure projects are risk-averse, compliant, and appealing to modern homebuyers and investors, especially when selecting an A-rated specialist structural defects insurance provider.
Peter Richardson is managing director of Build-Zone
CCF passes CCPI Assessment for Merchants and Distributors
N
ationwide distributor of insulation and interior building products CCF has passed the Code for Construction Product
Information (CCPI) Assessment for Merchants and Distributors. The CCPI was created in response to the
Grenfell Tower tragedy and the construction industry’s subsequent need to improve the way product information is managed and communicated. The CCPI aims to raise standards in the management, marketing and advertising of product information and facilitate a culture of transparency, with specifi c criteria for best practice set out for manufacturers, merchants and distributors. CCF was assessed and found to have the
necessary product information processes and systems in place to uphold the CCPI, and that the company is committed to diligently adhering to the CCPI and to proactively promoting and supporting the adoption of the CCPI with its suppliers. The CCPI Mark for Merchants and Distributors does not indicate that any particular product information conforms with the CCPI or constitutes any statement as to a product’s compliance with any standards of quality or safety. As part of the CCPI Assessment for Merchants and Distributors, CCF also had to demonstrate that its employees are fully supported and aware of what needs to be done to continuously
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improve product information and to keep the distributor’s product information up-to-date and unambiguous. CCPI assessment requires a commitment to
continuous improvement and looking ahead, CCF will be regularly reviewing its internal processes and how the company works with its manufacturing partners to raise standards in the information the distributor shares with its customers. Commenting, CCF’s managing director
Catherine Gibson said: “Through collaboration within CCF’s diff erent internal departments, headed up by our product category, technical and marketing teams, and by providing relevant
colleague training, we are now in an even stronger position to support our customers with reliable product information to help them select the right products for their projects. “We are proud to have passed the CCPI
Assessment for Merchants and Distributors and as an organisation, we are committed to proactively working with the CCPI to raise standards in product information and continuously improve the product information we supply.” For more information about CCF’s products
and services, please visit the website. technicalteam@ccfl
td.co.uk www.ccfl
td.co.uk
02/12/2024 15:07
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