The policy provides specialist cover against defects for single structures with a reinstatement value of up to £50m over a period of either 10 or 12 years.

It covers all structural elements of the building and is designed in a bespoke manner for each project through an underwriting process.

The new policy encompasses all the benefits of ICW’s standard cover, including approval by all major mortgage lenders.

The launch of the new warranty scheme comes after ICW Group secured additional capacity from its A-rated insurer, Accelerant.

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Aaron McCarten, COO at ICW Group, said: “We’re delighted to extend our offering with the new high value warranty scheme. 

“Our portfolio of products continually evolves to meet our customers’ needs and this policy has been developed in response to feedback from our current and future clients.

“With it, we bring our unique approach to each project, offering a highly experienced and independent perspective on high value projects and a straightforward underwriting process to help simplify what can otherwise be a complicated process. 

“That is backed up by our technology platform, which further simplifies the process and our ability to design bespoke policies for each and every project.”