Expert views and insight across our specialist areas.
Construction insurance - Understanding the placing process and strategies for hard market conditions
In our recent insight ‘Construction Insurance - How bleak is the market?’, we examined how the continuing reduction in construction underwriting capacity has increased the complexity of securing project insurance. Below we explain the key stages in placing a construction project insurance programme and suggest strategies for delivering improved results in hard market conditions.
Construction Insurance - How bleak is the market?
The UK construction insurance market has undergone a significant change over the past 18 months. But what does this really mean and what you as an owner or contractor do to improve your chances of a successful insurance placement that meets your needs. Our construction expert, Georgina Robinson explains all.
The PI market for UK design and build contractors - what does 2021 hold
The professional indemnity (PI) market for UK design and build contractors has been confined to intensive care for quite some time. If you have been even tangentially involved in UK construction over the last few years this will not be news to you. Our Head of UK Construction, Dave Cahill and PI specialists, Conor Geraghty and Matt Jones, look at how we got into this position and what's changing in the first quarter of 2021.
Parametric insurance - can it work for your construction project?
Parametric insurance is not new. However, its application is constantly evolving. Our construction specialist, Lauren Davies and parametrics expert, Richard Coyle explore how parametric cover could provide new approaches that complement existing, more traditional risk transfer strategies for your construction project.
Cyber insurance for the construction sector – to buy or not to buy?
Large losses and increased regulation have raised awareness of cyber risk at a board level and driven a growing demand for specialist insurance. With 83% of large US organisations now purchasing standalone cyber cover, and penetration rates elsewhere rising, what should the UK construction and housebuilding market be doing to protect themselves?
Modular construction - an insurance viewpoint
The UK government set a target of building 300,000 homes every year by 2025. According to the NHBC, the figure for 2019 was just over 161,000, leaving a substantial gap to bridge. With modern methods of construction hailed as the answer to the problem, how does the insurance market view these from a risk perspective?
Delay in start-up insurance - a delicate balance
Delay in start-up (DSU) is now a well-established and popular class of insurance for project owners. But how does the insurance market react when there is an imbalance between the capital value of the contract works and the financial losses consequent on their delayed completion? Our construction specialist, Lauren Davies investigates further.
Construction in the spotlight: Underwriters roundtable
Georgina Robinson, energy construction specialist at Miller, speaks with three leading underwriters to take the pulse of the market.
Covid-19 and falling oil prices - protecting construction projects during cessation of works
From the multi-billion LNG development to the small building refurbishment, almost every construction project is being affected by Covid-19 related restrictions. The recent fall in oil prices, however, could potentially cause far longer delays for energy related construction.
Builders' Risk Insurance: building a successful placement strategy
An increase in demand has coincided with a series of severe and attritional underwriting losses that have created a very interesting market dynamic as underwriters rethink their approach. Georgina Robinson and Andrew Clydesdale from our Construction team provide an overview of the opportunities, challenges arising, underwriting market's responses and how to achieve success for your clients.