Insurance Backed Guarantees (IBG): The Unsung Hero of Post-Completion Protection
When it comes to de-risking construction projects, most developers and brokers think of structural warranties, LDI, and PI cover first. But there’s another tool that offers critical, long-term protection—particularly for niche or specialist works—that often goes unnoticed. We’re talking about the Insurance Backed Guarantee (IBG).
Whether you’re a developer managing complex elements like basement tanks and flat roofs, or a broker supporting high-risk contractors, understanding and offering IBGs can give you a powerful edge.
Here’s why.
What Is an IBG and Why Should You Care?
An Insurance Backed Guarantee does exactly what it says on the tin: it backs up a contractor’s workmanship guarantee with insurance. If that contractor becomes insolvent or is otherwise unable to honour their guarantee, the policy steps in to protect the end client.
For developers and homeowners alike, that reassurance is invaluable—especially for areas where defects may not appear until years after practical completion.
Think:
- Flat roofing systems with complex detailing
- Lift pits and basements, where water ingress is a hidden risk
- External cladding, now under intense regulatory scrutiny
These aren’t just specialist areas—they’re potential liabilities. An IBG provides a clean, insurable solution.
For Brokers: Why You Should Be Talking About IBGs
If you’re a broker supporting niche contractors or developers on non-standard projects, an IBG can:
- Expand your service offering with a high-margin, low-friction product
- De-risk the build for all stakeholders, especially in post-Grenfell or retrofit environments
- Build client loyalty by proactively addressing long-tail risks
IBGs are often overlooked until it’s too late. By raising them early in the conversation, you show a strategic mindset that clients value—and remember.
How Compariqo Supports You
At Compariqo, we make IBGs easy to access and simple to understand. We work directly with brokers, developers and specialist contractors to:
- Arrange tailored IBGs across a wide range of niche works
- Support you with proposal wording, documentation, and client engagement
- Align IBG cover with other key insurance products like LDI and warranties
- Provide competitive quotes and fast turnarounds
Whether it’s part of a wider cover strategy or a standalone request, we’ll help you find the right fit.
In Summary: Don’t Let Specialist Works Become a Blind Spot
The construction industry is evolving—and so is the nature of risk. If your project includes bespoke installations, complex waterproofing, or high-risk building elements, an IBG isn’t optional—it’s essential.
For developers, it’s about peace of mind and future-proofing.
For brokers, it’s about smarter service and stronger relationships.
Ready to explore IBG cover? Let’s talk. Get in touch today for a tailored quote.