Your questions about HSB acquiring MD Group and LABC Warranty answered

LABC Warranty Customer Questions and Answers

This document has been designed to answer your questions regarding HSB’s acquisition of LABC Warranty.

If any of your questions are not covered here, please refer to your account manager in the first instance. Alternatively please contact our Customer Service teams on 0800 083 5165 or customerupdates@labcwarranty.co.uk

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Who has acquired LABC Warranty?

HSB has acquired the MD Group of companies including the scheme administrator for LABC Warranty, MD Insurance Services Ltd.

Who are HSB?

HSB is a specialist engineering and technology insurance, engineering inspection and risk management services provider in the UK and Ireland. We have worked with HSB on insurance products since 2012 and since 2020 they have underwritten the majority of LABC Warranty policies.

HSB is part of the HSB Group, which is a leading global insurance, engineering and technology specialist with over 150 years’ knowledge and expertise in engineering insurance and risk management. HSB has an A++ (Superior) rating from A.M. Best Company

The HSB Group is a member of the Munich Re Group, one of the top providers of reinsurance, primary insurance and insurance related risk solutions in the world.
www.hsbeil.com

Customers: Will this affect my quote/order with LABC Warranty?

No. There will be no impact on your current quote or order regardless of whether this is currently insured by HSB or one of our other insurer partners. HSB has acquired the scheme administrator for LABC Warranty and they are committed to servicing current customers and further growing LABC Warranty.

Customers: Will my contacts change at LABC Warranty?

No, there will be no changes to the people you work with at LABC Warranty as a result of this acquisition. Please continue to work with your risk management surveyor, account manager and any of our support staff as you do now.

Customers: Will this affect the terms and conditions of my quotes, orders or policies?

No. There will be no change to the terms and conditions of your quotes, orders or policies, nor the extent of coverage our existing policies provide, as a result of HSB’s acquisition of LABC Warranty.

What does this acquisition mean for the future of LABC Warranty?

HSB are committed to supporting the growth plans of LABC Warranty. We are now backed by one of the largest re-insurance companies in the world – Munich Re – giving us strength and stability against the backdrop of an ever-changing industry.

HSB provide specialist engineering and technology insurance and risk management products, primarily through brokers. These products differ from yet complement those offered by LABC Warranty – our focus is latent defects insurance and risk management. By working together we can improve each other’s proposition, product offering and distribution channels.

This acquisition represents an exciting opportunity to develop the LABC Warranty proposition with the support of a secure insurer that has similar values and risk management-led approach to insurance.

What happens next?

Please look out for further updates via your account manager and check your email for updates from our marketing team.

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