Insurance for construction projects
Our dedicated construction team works hand-in-hand with employers to design and place owner controlled insurance programmes that both protect and enhance your project.
Insurance isn’t always at the top of a company’s to-do list when embarking on a construction project. We understand that, however failing to protect your investments, assets and yourself against possible legal action can be expensive.
The traditional approach is for the contractor to insure the project - after all, the contractor carries the risk! However, more and more project owners are adopting an alternative approach that can offer valuable risk advantages, especially in relation to contractor insolvency.
Owner controlled insurance programmes (OCIPs)
Owner controlled insurance programmes (OCIPs) have rapidly become the preferred option for building projects. A policy arranged and held by the project owner, an OCIP provides coverage certainty and continuity, cost transparency and savings, and reduces complexity.
What is included within an OCIP?
- Construction all risks (CAR)
- Delay in start-up (DSU)
- Third party liability (TPL)
- Non-negligent liability
ANCILLARY COVERAGES
Whilst not forming part of an OCIP, the following additional coverages are available for companies wishing to implement a more comprehensive insurance strategy for their project.
- Latent defects insurance (LDI)
- Contractual liability
- Weather delays
- Construction pollution liability (CPL)
- Legal indemnities
Our Service Proposition
Industry experts
Our specialists are leaders in their fields. With extensive expertise across all aspects of construction risk having operated within the industry as clients and in the London insurance market as brokers and underwriters, we understand your business inside out. This allows us to propose risk solutions to both protect and enhance your projects.
Collaboration
Teamwork is in our DNA. We work in partnership with our clients to identify and understand your problems, and together as a team to deliver solutions. We always act in your best interests, without exception.
Client-first service
We place our clients at the front and centre of everything we do and believe in building long-term partnerships. Our service model, based on this ethos, is what differentiates us from our peers.
Our construction team handles all core aspects of client service, including day-to-day enquiries, market broking, account handling and claims advocacy. Every team member knows your account in full and we all share the same commitment to your business.
Proactive claims advocacy
We never overlook the importance of a prompt and helpful claims service and the peace of mind this can offer. As a result, we have built one of the strongest claims teams in the industry, where our construction claims specialists work alongside our placing brokers and technical teams for maximum efficiency.
Get In Touch
Jason Baston
Senior Director - Professional and Financial Risks +44 (0) 14 7379 4569 [email protected] Read moreSubmit an enquiry
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