Projects which are completed late and over budget could soon be a thing of the past with a new weather protection cover, FMB Weather Protect, offered exclusively by the National Register of Warranted Builders (NRWB), a subsidiary of the Federation of Master Builders (FMB).

Construction companies simply fill out a form online which sets the level of protection they require from whichever extreme weather event could affect their project and then receive an automatic payout if they are unable to work due to the pre-chosen weather event such as severe frost or excessive rain.


David Hill, Director of NRWB said: "We are proud to be the first to offer FMB Weather Protect to the construction industry in the UK. Many construction companies have felt the effect of more erratic weather in the UK, especially over the last two winters which caused further financial strain for many construction companies that were already suffering the effects of the economic downturn."

Mr Hill continued: "A considerable amount of construction work is done outside which means that weather can have a serious effect on a project, causing delays and adding extra cost as employees still have to be paid even if they can’t work and the risk of late charges on large contracts. This cover removes the worry of the financial strain that lost working days due to the weather can place on a construction company."

The cover is being offered in conjunction with weather risk management expert CelsiusPro, reinsurer Swiss Re, and Aon Benfield Securities, the investment banking subsidiary of Aon Corporation (NYSE:AON).

(CD)