SHC, along with their Insurance partner, Ensurance Underwriting, have introduced the first Latent Defect Insurance (LDI) product into Australia. This product has been developed as a result of our experience in the UK and European Latent Defect Insurance markets where is it a commonly purchased for protection against Defects in completed construction projects.

LDI protects the owner(s) of a building where building works have occurred against loss arising out of building defects for a period of 10 years. Importantly, also covered and named as insureds under the Ensurance LDI policy are can be any party with a insurable interest , including the builder, developers, Body Corporates and Strata Schemes .

The cover is secured through a one time, one off premium payment (no annual renewals or premiums) providing protection for 10 years!

Provides cover on commercial and residential building works, the cover is one of first instance, that is when an event occurs, the insured is free to make a claim. There is no waiting for various other events to occur before a claim can be made, alleviating delays and cost escalation not to mention reducing stress and loss of considerable legal and other costs enforcing the rights to have defective work fixed.