As an extension of the Build-Zone Warranty business, Sennocke have negotiated a Lloyd’s Insurance Backed Guarantee (IBG) facility for Japanese Knotweed Remediation companies.
Japanese Knotweed is one of the major problems facing Developers and Builders currently. Many Lenders will not offer financial loans on properties or developments with Japanese Knotweed or a history of the plant. This has seriously affected the market… until now.
Sennocke is working with some of the best Japanese Knotweed removal companies to guarantee the removal for up to 10 years by providing a IBG backed by Lloyd’s of London.
The most important aspect to consider when providing IBG’s is the financial stability and security of the Insurers themselves and to prove this your only have to consider what has happened to the professional bodies such as the Law Society when they decided to insure with unrated Insurers such as Quinn's and Balva. Then we also had Lemmar Europe – another so called “passported” insurer which went under as well.