First Canadian roofing captive
Vancouver-based Penfolds Roofing has established a captive to write customers’ warranty insurance.
PRI Warranty Corporation was established on August 1 and is the first captive established by a Canadian roofing company, the National Roofing Contractors Association has revealed.
Managed by Aon Insurance Managers, Vermont, it offers warranty insurance at no additional cost to Penfolds Roofing’s customers.
“PRI Warranty Corporation will give Penfolds’ customers absolute peace of mind about the long-term reliability of their investment in a new roof,” said Ken Mayhew, president of Penfolds Roofing.
He said many roofing companies offer some kind of warranty on their labour and pass on the manufacturers’ limited warranty to the customer.
“These often prove to be of little or no value; especially when combined with the transience of some roofing companies in the current economy.”