GOVERNMENT BACKED QUALITY SCHEME TrustMark has formed a new panel to assess the financial protection available to consumers looking to undertake home improvements, repairs, maintenance or changes for energy efficiency.
The Financial Protection Panel aims to reassure consumers that if they employ a TrustMark Registered Business they will have the correct protection in place, such as insurance backed guarantees and warranties, to protect prepayments, deposits, post completion workmanship, rectification of defects or major damage and non-compliance with Building Regulations as a minimum.
The panel, which is chaired by Lynn Hugo, has two components, a ‘Finance Protection Oversight Panel’ and an ‘Industry Assessment Panel’.
Lynn Hugo said, “The Financial Protection Panel is a collaborative approach from the industry to provide the consumer with optimal protection for any work they choose to have carried out by a TrustMark Registered Business. We will only accept financial protection schemes that have been through rigorous approval and meet the TrustMark Framework Requirements and appropriate standard of financial protection.
“We have a fantastic team who are committed to enhancing consumer protection, and by working together, we can ensure that the consumer journey is as safe and secure as possible. Consumer protection is at the heart of TrustMark’s vision and service delivery, so this is one important step to achieving this.”
Proof of protection
A register of verified financial protection schemes will be published by TrustMark and be publicly available for both consumers and businesses on the TrustMark website under ‘Services’ heading.
All works carried out in and around the home will have financial protection as required by the Framework Operating Requirements including all energy efficiency improvements, and have a duration cover of a minimum of two years, with the exception of certain energy efficient measures that will require a minimum of 25 years.