The deal aligns an experienced latent defects insurer backed by ‘A’ Rated insurers with public service, not-for-profit building control, giving customers the best possible warranty and building control package.
Founded in 2007, LABC Warranty is run by insurance managing agent MD Group. It provides a range of policies backed by a panel of A-rated insurers. Working in conjunction with LABC, the two organisations provide a combined network of almost 4,000 risk management and building control surveyors.
LABC Chief Executive Lorna Stimpson said the partnership had proved itself strong enough to come through the 2008 financial crash and perform strongly within the global pandemic and was ready to thrive under renewed scrutiny over the quality, efficiency and safety of new homes and buildings.
“I am delighted to be continuing our relationship with the MD Group which combines the regulatory compliance expertise of our local authority building control network across England and Wales with the warranty/insurance expertise of the MD Group.
Our combined resource working in unison is ideally placed to support the industry’s recovery from the pandemic and further respond to wider reforms.”
Jacki Goodman, Managing Director of LABC Warranty, said: “This is great news for our customers and the sector as a whole. It gives builders and developers local, high quality building control and structural warranty services backed by A-rated insurers in a flexible package.
“Our partnership with LABC has gone from strength to strength. This new deal will mean we can grow and evolve together, continue to help our customers through the challenges ahead, and help them build the homes and buildings our country needs.”
The news comes off the back of a strong 2020 performance for LABC Warranty, with total orders falling 14% on 2019, comparing favourably with industry figures showing a 23% drop* of new homes registered for warranty.
In the year’s hardest hit quarter (Q2) of trading during the first lockdown, LABC Warranty orders fell just 17%, backed by a strong June as the easing of restrictions released pent up demand.
The business has maintained full support services and on-site inspections during the current lockdown as it seeks to fulfil strong demand, underlined by Q4 order pipeline numbers almost two thirds up on 2019.
LABC Warranty works with some of the largest house builders, contractors and housing associations in the country, providing 10 or 12 years of cover for new homes, homes to rent, social housing, self-build, completed homes and commercial projects.
LABC represents all local authority building control teams in England and Wales. LABC member local authorities ensure building regulations are met in new, conversion and extension construction projects. LABC members also advise on public safety, consumer protection, safety at sports grounds and dangerous structures.
The independent, not-for-profit organisation further supports LABC members routinely working with the emergency services and other functions such as HSE, Trading Standards and Environmental Health to deliver safe buildings.
*Housebuilder 29 January 2021, https://www.house-builder.co.uk/news/registrations-down-23-2020-nhbc/