Our ‘A’ rated insurers

When you choose LABC Warranty as your structural warranty provider, you get the benefit of all of our schemes being backed by well-established and highly regarded ‘A’ rated insurers. But what exactly are the benefits of having an 'A' rated insurer and who are these insurers that we have partnered with?

‘A’ ratings and the benefits of financial security explained

What ‘A’ ratings mean for you

All of the insurers on our panel are ‘A’ rated or better. This means they are considered to have an excellent ability to meet on-going insurance obligations.
The better the financial rating of an insurer, the more likely they are to be able to meet their financial commitments, such as paying valid claims under your warranty cover.
It is particularly important for an insurer to have this financial stability with long-term cover such as warranties, to give you reassurance they will be able to meet their financial obligations over the 10/12 year period of your warranty.

Why do financial ratings matter?

If an insurer does not have a financial rating, there has not been an independent evaluation of their finances. As a result, there may be more uncertainty over the ability of the company to meet future claims.
This is why you should be extra careful using lowest cost as a deciding factor when choosing a structural warranty. You should always check who the insurer is, among other considerations.

What happens if an insurer cannot meet claims costs?

If the company is regulated by the FCA then some of the claims costs may be met by the FSCS (Financial Services Compensation Scheme). Depending upon the circumstances, the developer or contractor could also be liable for the valid claim.

The benefits of an insurer with a strong financial rating

There is more certainty they will be able to meet claims costs, protecting you and your customers. An insurance policy is a promise to pay in the event of a valid claim; this becomes worthless if the company is unable to keep this promise.

Our 'A' rated insurers

HSB

HSB is a leading specialist provider of engineering and technology insurance, and inspection services.

HSB’s specialist underwriting in the UK and Ireland covers a broad range of risks including construction, cyber, computer, equipment breakdown and energy. Built on a foundation of specialist insurance, engineering and technology, HSB is a global provider with over 150 years of technical risk knowledge and experience that sets the standard for excellence worldwide. Part of Munich Re, HSB is rated A++ (Superior) by A.M. Best Company. Further information can be found at: www.hsbeil.com

Registered Office: New London House, 6 London Street, London EC3R 7LP. HSB Engineering Insurance Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Financial services register number 202738.

Find out more about HSB

AXA

AXA Insurance UK Plc - With a history stretching back to the 19th Century, AXA has been helping people to protect their possessions, themselves and look after their money, for nearly 300 years. The AXA Group is one of the largest insurers in the world operating in 59 countries with over 161,000 employees and 103 million customers.

AXA Insurance UK Plc holds a credit rating with AM Best of ‘A’ and Standard & Poor’s of ‘A+’.

Registered office: 5 Old Broad Street, London, EC2N 1AD. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Financial services register number 202312.

Find out more about AXA