An IBG is a “Policy of Last Resort”. It does not replace the contractor’s primary obligation to fix defects while they are still in business. Instead, it acts as a dormant safety net that only triggers under specific conditions.

The policy mirrors the terms of the original written guarantee provided by the installer. If the original guarantee covered materials and labor for 10 years, the IBG will cover the reasonable cost of rectifying works to that same standard if the contractor suffers an “Insured Event” – most commonly, insolvency or bankruptcy.