We've revamped our BLPASSET product as a result of customer and market feedback, so it now really is the best in the market. It will not only enhance the quality of a development, but can make commercial property more attractive to tenants.
Here are some of the great benefits of the new BLPASSET policy:
All parties are covered in the policy so all stakeholders benefit
It uniquely covers the structure, M&E and components in commercial, residential and mixed premises in one place, with one insurer
Landlords and tenants can be named on the policy, and those rights can be transferred to succeeding landlords or tenants; and funders can be included as beneficiaries
It can survive the replacement of a contractor whether for insolvency or other reasons during construction
Tenants can purchase the M&E, component and/or business interruption covers even if the owner/landlord doesn’t
It complements other insurances – so it minimises the need to make collateral warranty claims or claims against PI insurers
Policies can be tailor-made to suit your clients' specific needs
And you should also know that:
BLP is the exclusive partner of Allianz Global Corporate and Specialty AG for handling M&E and CF cover
Very high cover limits are available from the one insurer
Proof of fault is not required - just discovery of defect
The policy dovetails with contractors' all risks and property policies creating a seamless protection for the property
Policies are financially secure – underwritten by one of the largest insurance companies in the world