Scottish Building Federation new insurance scheme

A Scottish Building Federation product story

Edited by the Buildingtalk editorial team Jun 3, 2009

The Scottish Building Federation launch new insurance scheme created by Heath Lambert's Commercial Affinity and Small Business (CAandSB) team.

Scottish Building Federation (SBF) and Heath Lambert join forces to help ease pressure on construction firms as the recession takes its toll.

The new insurance scheme will give SBF's 700 members access to competitive insurance products, as well as mitigating some of the potential hazards through effective risk transfer and the unexpected events that can disrupt and delay project completion.

At a time when the current economic climate is making companies more aware of their pennies and pounds, members from across the country will be safe in the knowledge that they will be getting a comprehensive product, endorsed by the SBF, and not paying over the odds.

Michael Levack, Chief Executive of the Scottish Building Federation, said: "Heath Lambert has successfully created a service that will benefit all our members".

"Construction is going through a difficult time at the moment, and we are keen to provide the industry with an insurance package that meets their needs while being cost effective".

He added: "In the current economic climate particularly, when margins for contract tenders are razor thin and competition is fierce, the temptation not necessarily to break the law but to compromise on best practice and to take health and safety risks, is one that the industry and its clients need to keep in mind".

Heath Lambert has designed the scheme to be applicable for every SBF member - from the one-man-bands, to multinational construction companies.

Specific insurance products have been created for the members with up to a GBP5 million turnover, whilst at the larger end of the scale the service will be bespoke.

Mike Owen, Managing Director of CAandSB said: "We are delighted to be working with the Scottish Building Federation on this new scheme".

"We have a real appetite for this type of business and have a lot of experience in this area".

"It is great to be working with such a well established Federation to ensure that Scottish construction businesses can get access to the cover they need, with advice from specialists in the sector.