It is becoming apparent that on an increasing number of large scale projects that Insurance Backed Guarantees (IBG’s) are being requested during the specification stage. To meet this need, GGFi now has the ability to quote for and provide one-off warranty insurance policies for large commercial projects that require coverage.
An Insurance Backed Guarantee (IBG) for a commercial project allows a trader to insure the guarantee of their work completed against the possibility of that business ceasing to trade. Whether you are tendering for a large commercial contract or require cover for a domestic installation with a contract value considerably higher than usual, GGFi can assist.
What does it cover
If it is the requirement of a tender that a warranty insurance product is required, GGFi should be able to assist with providing a swift, bespoke quote for a policy, no matter how large the value of the contract. The benefits of choosing GGFi as your IBG provider include;
- Bespoke Risk Analysis: each job is considered on a case-by-case basis which means you are offered competitive premiums and terms & conditions
- Peace of mind for your customer: in a climate of uncertainty, clients appreciate the assurance of dealing with a reputable trader. By offering a Commercial Insurance Backed Guarantee, you will give your client the confidence that they are engaging with a firm who has undergone a strict financial vetting process with GGFi.
- Limit of Indemnity: GGFi can consider cover for jobs ranging from £50,000 to £3,000,000 and beyond.*
- Bespoke Deposit Protection: offered on a case-by-case basis.*
- Flexible periods of cover: for these projects, GGFi can consider periods of cover over and above the standard 10 years.*
*subject to vetting an risk profile
Get a quote
If you require more information about the Commercial Warranty Insurance provided by GGFi, please do not hesitate to contact a member of the team on 0207 645 3744. Alternatively you can download the One-Off Warranty Insurance Application Form, once completed please return the form and supporting documentation to GGFi Account Manager Danelle Kaukau.