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Risks that are currently affecting the industry emanate from a wide range of factors, including the pressures caused by increasing infrastructure expenditure in the developing world, skills shortages in key sectors and technological and digital advances. Further risks have become apparent through the maintenance of complex supply chains across manifold territories each with their own social, economic, legislative and political nuances.

In an increasingly globalised world, owners, developers, financiers and construction companies are often operating across multiple territories. Consequently, construction is an industry which presents its stakeholders with a diverse catalogue of risk.

Our clients have confidence that the insurance policies we arrange for them are expertly structured, are written by experienced insurers with strong claims track records and, in the event of a loss, that our global specialty will handle the claim efficiently, with the most favourable results. 

KEY SERVICES


 

WHAT WE DO

With over 375+ experts worldwide, JLT’s global construction specialty provides expert insurance solutions to construction clients from around the world. Working across multiple markets, our global specialty strives to enable construction clients to access the best markets on the most favourable terms.

Our team works together to identify the most appropriate market and entry point for all major placements, actively sharing knowledge to drive best practice and deliver coverage enhancements globally. 

We work across the breadth of building, civil works, engineering risks and facilities management.

Our specialists have experience working with a diverse portfolio of construction clients in key sectors, including: airports, contractors, developers and owners, project solutions, heavy civils, leisure, housebuilders, infrastructure funds, mining and metals, petrochemicals, ports and terminals, roads, power, PPPs, rail, renewables, tunnelling and utilities.

FAQs

Construction firms entering a new region should consider the likelihood that projects will be delayed or cancelled, and assess whether the legal and regulatory environment offers effective investor protections or contract enforcement measures in the case of cancellation. To help firms manage a disparate range of country risks, JLT has developed World Risk Review, an online country risk ratings platform providing ratings for 197 countries across nine perils.

If things go wrong in the supply chain it is essential to have a strong insurance programme in place. Consequently, it is to a contractor’s advantage to procure trusted and solvent subcontractors since such subcontractors are more likely to have a robust insurance programme.

Yes, if you purchase delay in start-up (DSU) cover as an extension to the contract works insurance for the project. You will need to arrange this insurance yourself, generally as part of an owner controlled insurance programme, rather than requiring the contractor to do this.

We recommend starting a dialogue with a broker once you have received planning approval. It is important to establish a suitable project insurance strategy before engaging with potential contractors so that any cost benefits can be fully realised from your supply chain.

Standard TPL insurance protects for common law liabilities only. Where these agreements extend liability beyond common law obligations, additional specialist insurance coverage is required. These policies, known as contractual liability or rail liability policies are available through specialist construction insurance brokers.

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