Corus alliance with Latent Gold
16 Mar 2005
As part of its commitment to improving construction standards, Corus is offering a 12-year structural building guarantee in conjunction with its Confidex® guarantee on commercial properties. Latent Gold is a market leading commercial latent defect guarantee underwritten by one of Europe’s largest insurers, Allianz Global Risks, administered by one of the country’s leading insurance brokers, Bland Bankart Ltd part of Oval Group, and utilising the local Authority Building Control inspections.
Latent Gold provides protection to commercial building owners, occupiers, developers, contractors and other parties that have an interest in any newly constructed commercial property. Many in the industry see protection against latent defects as essential, but costs associated with the traditional method of arranging such cover, particularly the insurer inspections, have restricted its acceptance. However, by utilising the existing Building Control inspections by insurers are usually removed altogether, making the Latent Gold policy a far more attractive option.
Corus has shown a positive and proactive approach in teaming up with Latent Gold to offer guarantees for aesthetics through the Confidex guarantee and for structural elements via the Latent Gold policy. The already competitive cost of Latent Gold is reduced further and the cover period automatically extended to 12 years for those buildings registered under Confidex, which applies to the performance of the Colorcoat Celestia® and HPS200® pre-finished steel and the Repertoire® bespoke colour matching service.
Corus has over 40 years experience in the manufacture of pre-finished steel and since its inception in 1992, the Confidex guarantee scheme has become so popular and successful that it has resulted in underwriting cost, allowing the building owner a preferential rate of insurance.
Every construction operation generates a risk of defect and repairing these defects can be costly. For those buildings eligible for the Confidex guarantee, there is now the option to apply the Latent Gold scheme, thus ensuring that both the function and the performance of virtually any commercial building is covered for twelve years following practical completion.
For further information contact the Colorcoat Connection® helpline on +44 (0)1244 892434.
