Providing Financial Protection for Homeowners

All TrustMark Registered Businesses are required to provide their customers with the appropriate level of financial protection

Financial Protection

TrustMark Registered Businesses are expected to provide their customers with the appropriate level of financial protection

To comply with the TrustMark Framework Operating Requirements all Registered Businesses are expected to provide a minimum of two-years financial protection for completed works carried out in and around your home covering product warranties and workmanship.

You can also protect your investment with TrustMark's low-cost escrow service.

Many Registered Businesses will have the ability to offer you a more comprehensive financial protection cover, but it is important that you obtain details from the Registered Business of the cover that they offer before contracting with them to avoid any misunderstanding at a later stage.  

The aim of the financial protection mechanism is to cover you against certain risks if the business were to cease trading for any reason.  The protection on offer may vary slightly from business to business, depending on their financial protection provider – but whichever financial protection mechanism is on offer, TrustMark expects Registered Businesses to have coverage for the following:

  • Prepayments (Such as deposits or otherwise in advance of work being undertaken)
  • 2-Year Post Completion of Workmanship
  • Rectification of defects and/or Non-compliance with Building Regulations
  • Major damage or injury (through public liability insurance)

Before contracting with a Registered Business, you should make enquiries of the Registered Business and/or their financial protection provider to satisfy yourself that the protection they offer covers the specific products and/or systems you are having installed.

It is the responsibility of the ECO supply chain to determine whether a product/system is suitable and to ensure that it meets all relevant ECO requirements, in addition to any set out in the TrustMark approved guarantees; because a measure is eligible for a guarantee it does not automatically mean that it is ECO eligible.

TrustMark Financial Protection Panel

The Financial Protection Panel (FPP) was formed to assess financial protection mechanisms that support work carried out under the Energy Company Obligation (ECO). This ensures they are fair and provide the appropriate level of protection and to safeguard that any future developments to the TrustMark Framework Operating Requirements are fit for purpose and provide the best possible consumer protection.

The TrustMark Finance Protection Oversight Panel is comprised of independent, representatives with longstanding knowledge and experience within the legal, finance, insurance and regulatory sectors. They are responsible for assessing and endorsing the financial protection mechanisms submitted by finance protection providers looking to receive an ‘approved’ status for the use of their financial protection mechanism within the TrustMark scheme.

It is a mandatory requirement for the business to use an ‘approved’ financial protection mechanism for all ECO installations where the measure dictates.

For all other works in and around the home Registered Businesses are expected to provide financial protection that complies with the TrustMark Framework Operating Requirements.

25 Year ECO Measures

Please note, it is a mandatory requirement that all 25 year ECO measures, as listed below, are accompanied by a TrustMark approved appropriate guarantee:

  • External Wall Insulation (EWI)
  • Internal Wall Insulation (IWI)
  • Cavity Wall Insulation (CWI)
  • Hybrid Wall Insulation
  • Park Home Insulation
  • Room-in-Roof Insulation
  • Under Floor Insulation

Financial Protection - What, when and where?

When work undertaken has been funded through one of the government capital or grant schemes i.e., ECO4, SHDF, there are some mandatory requirements in relation to the financial protection that needs to be provided and evidenced for the measures installed which also require mandatory lodgement.

While the approved 2-year policies are not currently mandatory, we highly recommend their adoption to assist with compliance and enhance your confidence in meeting elements of the requirements outlined in our Framework Operating Requirements, Section 10. These policies are designed to align with the standards and expectations we uphold, offering a pathway to best practices and peace of mind in your operations.

The simple diagram below will help you to ensure that you remain compliant with the requirements of those schemes when lodging the work in the TrustMark Retrofit Portal.

(Click here to view a larger version of the diagram)

Approved Financial Protection Mechanisms

Below, you will find the current list of TrustMark Approved Appropriate Guarantees: