Insurance Lifeline to Australian Builders

EBM Insurance Brokers has announced the continuation of its BuildCover builders warranty and associated insurances for Australian builders following successful negotiations with a selection of underwriters.

EBM Managing Director Jeff Adams said the company has successfully secured a selection of underwriters for its BuildCover builders warranty and associated range of policies following the announcement that Lumley General and CGU Insurance are withdrawing from the market.
“This means EBM will continue to support Australia’s building industry with affordable and reliable protection despite the decision of Lumley General and CGU Insurance to exit the home warranty insurance market,” he said.

“EBM remains totally committed to working with the building industry and providing builders with viable and cost-effective cover throughout Australia.

“Through EBM’s strong relationships with the remaining underwriters of this product, and to avert any crisis the withdrawal of these two underwriters may have had, EBM has negotiated special new underwriting arrangements which will come into effect within the next two weeks.”

Consumer protection legislation dictates that in all states except Tasmania and Queensland, builders cannot legally apply for building licenses or quote on projects without being covered by the appropriate insurances. “As an established provider of home warranty insurance, EBM is committed to supporting members of the building industry in securing the necessary cover they need to operate,” Mr Adams said.

“With State and Federal Government incentives for first home buyers putting significant pressure on home builders at present, we are particularly keen to support builders through our BuildCover builders warranty and associated policies so they can get on with the job.

“As well as protecting our existing clients, EBM is already working to ensure a smooth transition of clients whose policies may have been affected by other insurers. “This will give builders around the country the security of knowing they will have continuity of protection.”

EBM Insurance Brokers is one of the top 10 insurance brokers in Australia and has grown steadily to become a major force in the broking industry.

In addition to builders warranty insurance, EBM Insurance Brokers also provides other speciality insurances required by builders including owner builder warranty insurance for those building their own homes, contract works insurance, public liability insurance and structural defects insurance.

Today, the company has a turnover of more than $135 million a year and 140 staff across nine branches including Sydney, Melbourne, Brisbane, Perth, the Gold Coast, Kalgoorlie, Bunbury, Margaret River and Geraldton.

For media enquiries, please contact:
Mills Wilson Communication Consultants
Andrew Bennett
andrewb@millswilson.com.au
or
Marie Mills
mariem@millswilson.com.au
Source Andrew Bennett - Mills Wilson Communication Consultants