Housing Associations: Navigating economic and regulatory challenges with expert support

Housing Associations (HAs) have hit the headlines in recent weeks – with warnings about the challenging financial environment, calls for more government support and renewed recognition of the skills shortages across the construction industry putting pressure on delivering projects.

As the UK housing market faces pressure to deliver affordable homes, HAs are crucial in meeting the Government's 1.5 million homes target. Amid increasing regulatory and economic challenges, including project delays and contractor insolvencies, securing the right insurance is vital—discover how London Belgravia Group (LBB) helps HAs navigate these complexities and ensure project success.

In this month’s newsletter, we focus on the importance of expert support in tailoring insurance solutions for residential developments and social housing projects and offer advice on how HAs can successfully navigate these changes.

Housing Associations (HAs) have a vital role to play in addressing the UK housing market's undersupply and meeting the government target that 50% of new builds to be affordable homes.

But as the demand for social housing providers grows, HAs are also navigating a complex market, with risks such as contractor insolvencies and increased regulatory obligations under the Building Safety Act. These highlight the need for tailored coverage to safeguard developments against challenges they could face.

Traditionally reliant on contractors for insurance, HAs often risk underinsurance. Partnering with specialist brokers like LBB helps HAs secure appropriate coverage, navigate market complexities, and manage risks effectively, allowing them to focus on delivering affordable housing.

Read our article, to discover How housing associations benefit from specialist insurance brokerage

The UK construction industry remains the sector most impacted by insolvencies, driven by the complex economic climate including high material costs and labor shortages, and exacerbated by project and planning delays.

When the worst happens, and a contractor or other party goes into insolvency or liquidation, developers and housing associations (HAs) are often left dealing with distressed, part-complete projects that require immediate solutions to avoid financial loss and project failure.

This case study explores how LBB supported major three social housing developments to navigate contractor insolvency. ?LBB secured tailored insurance solutions and replacement warranties, ensuring project continuity and protecting investments, and allowing the HAs to successfully complete vital social housing developments.

Interested in learning more – Discover why specialist insurance support is key to protecting your development

With over two decades of experience in construction and property, Rachel is a specialist? in residential developments. Rachel works closely with national and regional housebuilders, as well as housing associations, to deliver tailored insurance solutions that meet the unique needs of each project. Her expertise lies in building and maintaining trusted relationships with developers, ensuring they have access to the most comprehensive coverage in an increasingly complex regulatory landscape.

Rachel has a deep understanding of the latent defects market and the challenges developers face in securing the right insurance in the post-Grenfell era. At London Belgravia Group, Rachel is dedicated to providing expert, independent advice, helping clients navigate the evolving demands of the construction industry while safeguarding their investments and ensuring project success.

Get in touch with Rachel today to discuss your next project or connect on LinkedIn

?? Housing Today : Housing associations should look at residents for next generation of talent, says @Peabody asset chief – read here

?? Building Design. : Southern Housing chief executive says this is the “toughest time” for housing association finances he can remember – Learn more

?? Local Authority Building & Maintenance : National Housing Federation backed alliance of housing associations and councils launches to boost the use of modern methods of construction (MMC) – Find out how

?? The London Standard : Why the Building Safety Fund must include social housing

Many thanks for reading this issue of the LBB Property Update.

The London Belgravia Group is a leading provider of latent defects insurance and other construction policies. If you have any questions for anyone on the team, please get in touch today using our Contact page.

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