Contractors insurance

With risks constantly evolving across a diverse range of territories, each with their own unique political, legislative, cultural or geographical factors, contractors are increasingly requiring innovative insurance solutions to respond to their complex risk profiles.

Since its foundation over 30 years ago, JLT Construction has evolved into the market's leading provider of insurance and risk management advice to contractors.

Our contractors’ team are dedicated specialists who work seamlessly together to provide an unrivalled service to our clients and innovative solutions which shape the construction insurance industry.

KEY PRODUCTS

WHAT WE DO

Our global team of 375+ construction specialists work with some of the largest contractors in the world across a number of territories.

Our service proposition is distinctive; instead of providing a generalist transactional insurance broking team which relies on specialist support for technical issues, our team are experts in contractor and construction risks.

Your service team all have the experience and expertise to understand your business and deliver the right advice without the need for external support.

JLT’s culture means we actively share our knowledge to ensure clients are informed of current and developing risk and insurance trends which may impact their business.

FAQ

Standard TPL insurance protects for common law liabilities only. Where these agreements extend liability beyond common law obligations, contractual liability insurance coverage is required. This can be provided under annual insurance programmes but these must be very carefully drafted by a specialist insurance broker. Alternatively, project specific contractual liability coverage can be tailored to transfer this risk, it is also available through specialist construction brokers.

Basic PI policies only cover professional negligence and this would need to be demonstrated to claim successfully. Some onerous wordings exclude liabilities arising under FFP obligations and this can also exclude losses even where there has been a negligent act. A high quality PI wording will cover civil liabilities and this will include FFP obligations, subject to some conditions and qualifications. A specialist construction insurance broker will be able to guide you through the coverage options available.

As the defects rectification period has passed there will be no cover under the Construction All Risks (CAR) policy for this project. Your third party liability (TPL) policy should respond in relation to legal liability for the loss of contents. Cover for the damage to the building itself (along with consequential loss) will depend on whether your TPL policy has been drafted to include liabilities arising from completed contract works and contractual liability. This is a very complex area of TPL coverage and one which is critical in delivering value to the policyholder. A specialist construction insurance broker will be able to guide you through the coverage options available.

You should consider an owner controlled insurance programme (OCIP) where the owner arranges these insurances from the commencement of demolition to continue through until completion of the fit-out works, and is designed to meet the needs of all stakeholders involved.

WHY JLT

UNMATCHED EXPERTISE
Since its inception in 1988, JLT Construction has matured to the market leading provider of insurance and risk management advice to contractors. Our contractors’ team are dedicated specialists who work seamlessly together to provide an unrivalled service to the industry.

PARTNERSHIP
We have developed the market’s leading construction business through successful long term partnerships with our clients. Our approach means we work closely with clients, developing in depth knowledge of their business and its needs.

INNOVATION
Having been established for almost 30-years, we have been at the forefront of innovation in the construction insurance market.

Our knowledge of the contractors sector allows us to proactively seek solutions to emerging risks that are affecting our clients businesses. We are continuously developing new products, or ways to adapt existing products, to provide value to our clients.

We deliver these innovations by utilising four key characteristics that are part of our DNA; Industry knowledge, proactivity, market understanding & leverage and imagination.

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