Construction Academy 2019: What you need to know

23 July 2019

Discover the key knowledge and insights shared at our annual event

Every summer, invited delegates representing all parts of the insurance community converge at Marsh JLT Specialty’s head office for our annual Construction Academy.

The construction experts at Marsh JLT Specialty are renowned industry-wide for imparting their expertise via blogs, technical bulletins and white papers. During the Construction Academy, they team up with colleagues from the wider Marsh JLT business and the construction and insurance industries to share their construction insurance knowledge with risk managers and insurance underwriters from around the world.

This month, our experts engaged with 30 delegates for three days of talks, seminars and group exercises focused on construction risk management and related insurance. Technical information was relayed, case studies analysed and global issues affecting construction discussed and deliberated on.

The intricacies of construction insurance coverage related to Defect Exclusion (DE) and London Engineering Group (LEG) clauses were among the contractual issues untangled by our technical experts. And the impact of pan-industry risks such as cyber attacks and terrorism, political and security threats were among the global topics discussed with attendees.

Key discussions and debates included:

Construction Academy: What you need to knowCurrent insurance market conditions

Delegates were most interested to learn of the current construction insurance market conditions and the effect of significant losses on underwriters’ appetite for construction business. The impact of major international losses, particularly on hydroelectric projects, was discussed at length and delegates were given practical advice and strategies as to how renewals and the inception of new placement can best be managed through preparation and planning.

Discover more: Find out how to optimise your renewals process and use it to promote your company: Insurance Renewals: Sharpen Your Business Edge.

Interface of risk and insurance

We were grateful to once again welcome Colin Hamling as a guest speaker to the 2019 Academy. Colin’s background is in underwriting and rail risks but latterly has served as insurance manager for both the Crossrail and HS2 projects. He provided delegates with a fascinating insight into how risk and insurance issues interface on major infrastructure projects.

Discover more: Joint ventures (JVs) are a crucial element of large infrastructure projects, but they can create complex insurance-related issues. Find out how to ensure all parties are adequately covered in our white paper, Insured Status – When Am I Insured?

Importance of underwriting information

The effect of quality underwriting information is often underestimated in securing the best possible terms for a construction liability insurance placement. This is particularly important in a hardening market where construction insurance companies are being more discriminating about where their capacity is deployed. The presentation was delivered by Marsh JLT Specialty experts alongside Tom Major of Allianz, one of the market's leading construction all risks (CAR) underwriters.

Discover more: Read how your business is affected by a hardening CAR insurance market

We’d like to thank all the attendees and speakers for making this year’s event such a pleasure to host. Please email Anna Wiatr to sign up to our mailing list to be notified about next year’s event, and to receive regular construction insights from the experts at Marsh JLT Specialty.

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  • Dave Cahill
    Dave Cahill

    As a Senior Partner in Marsh JLT Specialty's construction practice, Dave provides broad risk and insurance solutions to support clients in achieving their important risk transfer objectives.

    Solutions provided by the team range from local to global programmes across the suite of construction and operational risk products. The industry sectors he works with include contractors, developers, owners, international developers, Public Private Partnership (PPP) & Private Finance Initiative (PFI) projects and surety.

    If you’d like to talk about any of the issues raised in this article, please contact Dave Cahill, Divisional Business Development Leader, Marsh JLT Specialty Construction Practice on +44 (0)20 3394 0389.

Services provided in the United Kingdom by Marsh JLT Specialty, a trading name of Marsh Ltd and JLT Specialty Limited (together “MMC”). Marsh Ltd is authorised and regulated by the Financial Conduct Authority for General Insurance Distribution and Credit Broking (Firm Reference No. 307511). JLT Specialty Ltd is a Lloyd’s Broker, authorised and regulated by the Financial Conduct Authority for General Insurance Distribution and Credit Broking (Firm Reference No. 310428). This is not legal advice and is intended only to highlight general issues relating to its subject matter. Whilst every effort has been made to ensure the accuracy of the content of this document, no MMC entity accepts any responsibility for any error, or omission or deficiency. The information contained within this document may not be reproduced. If you are interested in utilising the services of MMC you may be required by/under your local regulatory regime to utilise the services of a local insurance intermediary in your territory to export insurance and (re)insurance to us unless you have an exemption and should take advice in this regard.