The construction industry has always played a central role in global economic and social development. With the inherent complexity and scale of construction projects, the construction risk landscape continues to evolve and grow increasingly complex.
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 globalized 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.
JLT clients have confidence that the insurance policies we arrange are expertly structured, are written by experienced insurers with strong claims track records, and, in the event of a loss, that our global specialty team will handle the claim efficiently, with the most favorable results.
WHAT WE DO
With over 375+ experts worldwide, JLT’s global construction practice provides expert insurance solutions to construction clients from around the world. Working across multiple markets, our global team strives to enable our construction clients to access the best markets on the most favorable terms.
Our specialists work together to identify the most appropriate market and entry point for all major placements, actively sharing knowledge to drive best practices 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.
Our global construction team offers industry expertise. For 30 years, our integrated team of specialists has been committed to working in partnership with our clients to deliver exceptional service, deep specialist knowledge, client advocacy and tailored advice.
- Our integrated team of specialists are leaders in their field and understand your industry
- We operate a number of market leading facilities which deliver capacity, pricing, coverage, and claims benefits to our client base, and also generate market derived income
- JLT has maintained our high levels of investment in specialist claims resources. Our team is integrated within our construction practice and works in close coordination with our placement and support teams to act as client advocates and to deliver successful claims outcomes
- We are the only one of our peers to maintain a specialist construction professional indemnity team within our construction division, which permits a holistic understanding of our clients’ construction sector issues
- We are constantly learning to ensure our industry knowledge allows us to anticipate your needs. Knowledge about insurance is not enough; we pride ourselves on also being knowledgeable about your industry.
PARTNERING FOR OUR CLIENTS
A global construction company, a long-term JLT client, acquired a smaller entity with operations in 35 countries (including the MENA) commencing a six-month integration process to a global program.
The acquired company sent a request to their broker for public liability and employer’s liability insurance for a project in MENA. When the holding broker was non-responsive and unable to meet the client’s coverage and timing requirements, the global parent approached JLT to provide an option for coverage.
Working with our local partner, we were able to present terms from four local markets. Shortly thereafter it became evident that, despite the need for coverage, no legal entity would be operating in the territory in relation to the project. Cover was required for visits only (i.e. coverage was required on a contingent basis), which presented an employer liability issue due to the applicable visa restrictions.
As a result of our in-depth understanding of local insurance regulations and the local market, our partner was able to obtain a quote for the required contingent cover, ensuring that our client was able to evidence insurance in accordance with its contractual obligations.
CATASTROPHIC FAILURE ON METRO PROJECT
While not the appointed broker for the project, JLT was invited to provide guidance and support to the owner following protracted and acrimonious negotiations with insurers, which had failed to achieve settlement of the claim.
The matter was of extremely high profile and, most damagingly, dialogue between the two sides had broken down. JLT spent a lengthy period with the owner’s contract personnel reviewing the claim submission, the nature of the damage, and the key policy points in dispute. At the same time, JLT embarked upon exploratory discussions with insurers to determine where and why they had particular difficulties with the claim.
This re-evaluation of the claim submission by both sides provided the basis for dialogue to restart and within a short period of time thereafter an amicable negotiated settlement was secured.
As a result of JLT’s collaborative approach and demonstration of experience in delivering the solution we were subsequently appointed as the insurance broker for the re-alignment contract.