The industry s only 10 year insurance backed warranty for Drainage Works Auger is an appointed representative of Brewster Associates who are authorised and regulated by the Financial Services Authority for assisting in Insurance Claims
What are the benefits of
The benefits of DrainShield UK Provided at no additional cost to the client. DrainShield UK covers any drainage works carried out at the insured premises by Auger for any defect in the design, specification, workmanship, materials or components. The warranty is transferable should the property be sold or change hands. There is no excess, only a minimum claim value should a problem be encountered. There is no limit to the number of claims that can be made.
Frequently Asked Questions about...
The FAQ s of DrainShield UK If I have a problem with a previously repaired drain what do I do? Should the problem occur within 12 months of works being carried out contact Auger who will investigate. Should the problem occur within the following 9 year period contact MD Insurance. Please be aware cover only applies to drainage works installed or repaired by Auger and NOT your full drainage system. If anything happened to Auger, what would I do? Irrespective of the timing of a problem with any works carried out by Auger, should we cease to trade then full policy cover is taken on by the insurer. How do I make a claim? Please refer to your policy booklet but a claim in the first 12 months following repair will be handled by Auger, any claim beyond that will be handled by MD Insurance. Do I have to pay an excess? No, there is a minimum claim value, below which claims will not be considered. Should a claim value exceed this minimum it will be paid in full with no deductions if successful. Can I claim for unblocking? Should the blockage be shown to be as a result of a failed repair carried out by Auger, unblock charges will be included in your claim amount.
What does the certificate look like?
The DrainShield UK Certificate DRAINSHIELD CERTIFICATE OF INSURANCE Certificate Number: MDIS Reference No: The Policyholder: WRC Member: The Underwriter: The Premises: Value of Building Works: Limit of Indemnity: Brief description of the Building Works: Completion Date of the Building Works: Period of Insurance: Indexation: Minimum Claim Value: Liberty Syndicate 4472 at Lloyd s From: To: Drainage Defects Insurance Guarantee Page 1 of 1 26-004-1.00-010210 5% per annum compound with effect from the first anniversary date of the date of inception of this policy. The Underwriter agrees to provide insurance in respect of the Building Works during the Period of Insurance subject to the terms and conditions of the Drainshield policy. Signed for and on behalf of the Underwriter: Date: SPECIMEN
The small print... Policy Wording
SUMMARY OF COVER
1. Introduction DrainShield is a first party policy of indemnity covering latent defects in drainage and associated works which are approved and audited by a member of the Water Research Council (WRC). The guarantee is only available to members of WRC and their customers. The benefit of the policy is for property owners, their funders and subsequent owners, tenants and other users or occupiers having a financial interest in the insured Building Works. 2. Who the Parties Are 2.1 Water Research Council Water Research Council is an alliance comprising leading organisations in the drainage industry. Membership is by invitation only and is based on the manufacturing expertise of existing partners/customers in the industry and commitment to work with the members of the alliance. WRC is responsible for approving the product systems and materials to be insured under this scheme. They also undertake the Technical Audit function on behalf of the Underwriter. To ensure high levels of service the Technical Auditor will be measured against key performance indicators and the quality of their standard of service is monitored by the Technical Services department at the Scheme Administrator. 2.2 The Underwriter Lloyd s Syndicate 4472 (Liberty Syndicates) Liberty Syndicates, now the fourth largest managing agent in Lloyd s, was established in 1994, taking over Syndicate 190 for the 1995 account and Syndicate 282 for the 1996 account. As from the 1 st January 2005 Syndicates 190 and 282 merged into one single syndicate, 4472. Syndicate 4472 is the Underwriter for DrainShield. Liberty Syndicates is a wholly owned subsidiary of Liberty International Underwriters, a division of Liberty Mutual Group. Liberty Mutual Group is the second largest international U.S. property and casualty company and the sixth largest property and casualty insurer in the U.S. With in excess of $21.2 billion in consolidated revenue and over $78.8 billion in consolidated assets, Liberty Mutual Group has the financial strength to provide a wide array of products and services for businesses of all sizes, individuals, and families around the world. It employs more than 38,000 people across 900 offices worldwide. Liberty Mutual currently ranks 102nd on the Fortune 500 s list of the largest U.S. corporations and enjoys A (Strong) and A (Excellent) ratings from Standard & Poor s and A M Best respectively. Lloyd s also currently enjoys the same ratings. Liberty Syndicates is authorised and regulated by the UK Financial Services Authority 2.3 Scheme Administrator MD Insurance Services Ltd Haymarket Court Hinson Street Birkenhead CH41 5BX Telephone: 0151 650 4300 Email: enquiries@mdinsurance.co.uk MD Insurance Services Ltd is authorised and regulated by the UK Financial Services Authority. Summary of Cover 26-005-010610 Page 1 of 5
3. Technical controls and assistance provided Once a Contractor has been registered with WRC and advises that they wish to effect cover then were selected for audit, the following procedures apply : the Technical Auditor contacts the Contractor; when the Technical Auditor contacts the Contractor at the outset they will be advised of the Technical Auditor s contact details and will be invited to contact the Technical Auditor if they require advice; the Technical Auditor requests copies of all relevant information; a technical audit is undertaken on the relevant information and should a problem be identified, all relevant parties are notified immediately; the Technical Auditor may visit the Building Works to check that the standard of construction is satisfactory; if the technical audit is satisfactory, a report is issued to the Contractor confirming the position: 4. Summary of Cover The following provides a summary of the cover provided by Drainshield. It does not purport to give a comprehensive summary of the cover, this can be found in your policy document. This summary does not form part of your insurance contract. Please refer to the policy wording for full information on the cover provided. 4.1 Drainshield provides cover for The first year after completion Damage occurring within the first year of the Period of Insurance is the responsibility of the Contractor. Therefore the Insured should notify the Contractor as soon as possible on becoming aware of such Damage within this period. In the event of the Contractor failing financially, the Underwriter will indemnify the Insured against the cost or partial rebuilding or rectifying work to the Works which have been affected by Damage provided always that the liability of the Underwriter does not exceed the reasonable cost of rebuilding such Building Works to their original specification. Cover in Years 2 to 10 The Underwriter will indemnify the Insured against all claims discovered and notified to the Underwriter during Years 2 to 10 of the Period of Insurance in respect of the cost of complete or partial rebuilding or rectifying work to the Building Works which has been affected by Damage provided always that the liability of the Underwriter does not exceed the reasonable cost of rebuilding the Building Works to the original specification. 4.2 Additional Costs In addition, in the event of a valid claim the Underwriter will pay within the Limit of Indemnity: Such additional costs and expenses as are necessarily incurred in repairing, replacing or rectifying any part of the Premises other than the building Works which have been affected by Damage provided always that the liability of the Underwriter does not exceed 25% of the Limit of Indemnity for the Building Works as stated in the Certificate of Insurance. Additional Costs are not payable in excess of the maximum amount shown on the Limit of Indemnity. Summary of Cover 26-005-010610 Page 2 of 5
4.3 MINIMUM CLAIM VALUE A Minimum Claim Value is applicable for all claims and detailed on your certificate of insurance. This is applied to each and every separate cause of loss for which a claim is made under the policy. 4.4 INDEXATION The Limit of Indemnity and Minimum Claim Value are increased by 5% per annum compound. 5. Key Definitions 1. BUILDING WORKS The drainage and any other associated works carried out at the Premises under a contract or agreement between the Contractor and the Policyholder or any other party who has entered into an agreement or contract for the Building Works and who is named in the Certificate of Insurance. 2. CERTIFICATE OF INSURANCE The Certificate issued by the Scheme Administrator on behalf of the Underwriter to signify acceptance of the Building Works for insurance hereunder. 3. CONTRACTOR Any member of the Water Research Council who is registered with the Scheme Administrator. With whom the Policy holder or any other party has entered into an agreement or contract for the Building Works and who is named in the Certificate of Insurance. 4. DAMAGE Any Defect in the design, specification, workmanship, materials or components of the Building Works affecting or causing physical loss, destruction or damage and/or affecting or causing imminent instability to a Premises which is first discovered during the Period of Insurance. 5. DEFECT A failure to comply with the requirements of The Drain Repair Book (copies available from WRc plc, Franklands Road, Blagrove, Swindon Wiltshire SN5 8YF. Tel 01793 865138) which gives rise to Damage. Failure to follow the performance standards or guidance supporting does not in itself amount to a Defect, as it may be possible to achieve the recommended performance in other ways. Summary of Cover 26-005-010610 Page 3 of 5
6. Policy Exclusions The following exclusions apply to the policy. You should refer to the policy wording for the full wording of the exclusions. Alterations Changes in Colour Consequential Loss Defects in Existing Works Maintenance & Use Personal Injury Prior Knowledge Property not insured Radioactive Contamination Reasonableness Sonic Bangs Special Perils Subsidence Trees Vermin War Risks Water Table Wear and Tear Wilful Acts 7. Financial Limits The maximum the Underwriter will pay is the value of the Building Works as noted in the Limit of Indemnity in the Certificate of Insurance. The Limit of Indemnity is indexed in line with the Indexation Clause in the policy 8. Cancellation of Insurances You have the right to cancel cover under DrainShield. If you wish to cancel the cover you must do so within 14 days starting on the day after you receive the Drainshield policy documents. Your cancellation must reach the Scheme Administrator letter or email. Contact details are: Scheme Administrator MD Insurance Services Ltd. Haymarket Court Hinson Street Birkenhead CH41 5BX Email: enquiries@mdinsurance.co.uk Please quote your Drainshield policy number when cancelling. A return of the insurance premium will be made. Any payment in respect of the Technical Auditor s fee will not be refunded. The Scheme Administrator does however reserve the right to charge an administration fee. All DrainShield policy documents should be returned to us with the cancellation request. Summary of Cover 26-005-010610 Page 4 of 5
9. Complaints The Technical Auditor aims to provide you with a high level of customer service. If you wish to make a complaint against the Technical Auditor you should contact them directly. Details of the Technical Auditor and their complaints procedure will be provided by the Scheme Administrator on request. The Scheme Administrator aims to provide you with a high level of customer service at all times, but if you are not satisfied, contact them: The Complaints Officer MD Insurance Services Ltd. Haymarket Court Hinson Street Birkenhead CH41 5BX Email: enquiries@mdinsurance.co.uk Telephone: 0151 650 4300 In the event that you remain dissatisfied, you can refer the matter to the Complaints Department at Lloyd s. The contact details are: Complaints Department Lloyd s One Lime Street London EC3M 7HA Telephone: 0207 327 5693 Email: complaints@lloyds.com If you are still not satisfied, you may refer the matter to the Financial Ombudsman Service (except in the case of commercial customers with a group annual turnover of 1m or more, or trustees with a net asset value of 1m or more). 10. Compensation The Underwriter, Scheme Insurance Broker and Scheme Administrator are covered by the Financial Services Compensation Scheme (FSCS). You may be entitled to compensation from the scheme if any of these parties are unable to meet their obligations. This depends on the type of insurance, size of the business (if a commercial customer) and the circumstances of the claim. Further information about compensation scheme arrangements is available from the FSCS website at: www.fscs.org.uk 11. Making a Claim The Scheme Administrator handles all claims fairly and promptly and acts on behalf of the Underwriter in negotiating and settling claims. To make a claim please contact MD Insurance Services Limited Haymarket Court Hinson Street Birkenhead CH41 5BX Email: enquiries@mdinsurance.co.uk Please Note: Items marked in bold in this document are specific policy definitions. You should refer to the policy wording for their precise meaning. Summary of Cover 26-005-010610 Page 5 of 5
Haymarket Court Hinson Street Birkenhead Wirral CH41 5BX T 0151 650 4300 F 0151 650 4344 E info@mdinsurance.co.uk MD Insurance Services is authorised and regulated by the Financial Services Authority.