HOUSEHOLDERS in Wales concerned about the impact of invasive non-native plants have a new route to long-term protection from issues caused by Japanese Knotweed, bamboo, buddleia and more.
A newly developed insurance product means members of the Property Care Association can, for the first time, offer an insurer-backed guarantee that provides cover from the start of remediation works and extends beyond the contractor’s trading status.
The PCA Invasive Non-Native Plant Insurance Backed Guarantee (IBG) provided by LBB, specialist structural warranty and bond consultancy, provides reassurance from the day works begin.
Designed specifically for the specialist treatment of invasive non-native plants, it covers long term treatment and monitoring periods, herbicide programmes and excavation works, post-treatment monitoring requirements and lender, valuer and solicitor expectations.
Suitable for residential and commercial properties and available exclusively to PCA members, the policy provides protection where the contractor is unable to honour their guarantee due to insolvency or cessation of trade.
PCA Chief Executive, Sarah Garry said: “Mortgage lenders, surveyors and conveyancers increasingly expect insurance-backed protection for invasive non-native plant remediation.
“This product has been carefully developed in partnership with LBB London Belgravia to ensure it is credible, commercially viable and fit for purpose.
“It means our members can now offer clients long-term protection, which can be crucial in the monitoring and treatment of invasive non-native plant species.
“The IBG is a brand-new insurance product offering a level of cover, protection and reassurance that is only available from PCA members.”
The PCA Invasive Non-Native Plant Insurance Backed Guarantee is provided by LBB London Belgravia, a specialist insurance broker with extensive experience in property-related risk, specialist remediation works and insurance solutions aligned to lender expectations.
For more information about invasive non-native plants, click here.
