Construction has been dealt another insurance blow after Allianz Global Corporate and Specialty (AGCS) pulled out of its structural warranty partnership with BLP.
The insurer acted as underwriter for BLP's residential, commercial and mixed-use latent defects insurance.
BLP has now started discussions with other insurance companies as it searches for new underwriting partners.
In the interim period, AGCS will continue to underwrite BLP business up to 27 November 2020 and will continue to provide a full claims service arising from all inherent defects insurance (IDI) policies agreed up to that date.
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