Building contractors often buy insurance policies with the most basic, standard wordings – which often include unfavourable warranties or conditions. We’ll look carefully at your business to understand your exposures and your needs, and build an effective, tailored insurance solution for you.

Our specialist construction contractors team can arrange one-off or facility-based multi-disciplinary insurance for your construction projects, wherever they are in the world. We handle contractor insurance for a wide range of construction projects, on a wholesale or retail basis, across sectors from energy to infrastructure (largely rail, road, metro, tunnelling and bridges).

We’re happy to deal with smaller projects, as well those exceeding £1bn in value. Whatever the scale of your business, we’ll work hard to understand your requirements by undertaking a critical analysis of your current coverage and risk protection before designing an effective insurance programme just for you.

  • Benefit from our strong relationships with the most relevant underwriters
  • Enjoy the attention of a specialist team which handles nothing but contractor insurance
  • Hold bespoke policies designed around your needs
  • Choose our facility approach for reduced costs, time savings and enhanced claims handling
  • Insure projects all over the world (and reinsure through us whenever in-country policies are required)
  • Benefit from the proactive support of our in-house construction claims management team.

We have a specialist contractors team

Our dedicated construction team has built up extensive experience and understanding of the industry and its challenges and risks. We know the shifting economic landscape; the changing technologies and their implications (for example, the impact of turbine technology on running hours); and – on a daily basis – which contracts are being awarded, and where.

We take it personally

We know which underwriters currently have the strongest appetites for which type of business. Not only will we take your business to them personally, but we’re happy to take you with us (whether you’re a broker or a construction business) to ensure that the underwriter knows everything they need to know. And we prefer not to leave until we’ve struck a deal for you!

We can take a one-off or facility approach

Buying an insurance policy for individual projects may be appropriate for large, complex or heavy civil works (such as tunnelling and wet works, for example, or projects in natural catastrophe zones). However, a more advantageous approach can be to insure all, or the majority, of your contracts with an annual or multiyear facility – in other words, a group portfolio. The benefits to you include:

  • Simplified tenders – Most contracts/projects are automatically included at set rates and deductibles, so pricing is known in advance and there’s no need for a marketing exercise for each project.
  • Fast, certain cover – A bespoke 'broadform’ policy avoids different policy wordings for each project. This achieves the widest possible cover, and offers more certainty when negotiating contract conditions.
  • Cost savings – This approach cuts your administration and can also produce tangible premium savings. You’ll benefit from economies of scale, and smaller projects won’t suffer from any ‘minimum premium’ requirement. Plus, as insurers become familiar with your risk management approach, they will often offer reduced premiums and excesses, especially if your claims history is positive.
  • Insurer relationships – The facility approach develops closer relationships with your insurers, which can have significant benefits when insuring larger, more complex projects. Long-term insurer relationships can mitigate the effects of insurance market fluctuations (eg hard vs soft market).
  • Claims response – A compelling argument for the facility approach is that they tend to enjoy enhanced claims-handling on the part of your insurers. You’ll have a mutually agreed claims procedure and a nominated loss adjuster, enabling claims to be handled more promptly and reasonably.

Such facilities can be arranged on 3 bases:

  • Turnover basis – The policy includes all in-scope projects under way at the inception of the policy (unless insured separately), until the policy expires at 12 or 24 months. ‘In-scope’ projects will fit within certain parameters such as size, type and location. You’d provide an estimated turnover projection, and a deposit premium is charged at pre-agreed rates; on expiry, the premium is adjusted up or down.
  • Contracts-attaching basis – The policy includes all in-scope projects which begin during the period of the policy, and they remain insured until they’re complete, subject to agreed period limitations. Each new project is disclosed to insurers, often on a bordereau basis, and premiums charged at pre-agreed rates. The cover for each project is known at the outset, providing certainty of cost, excesses, insurers and coverage.
  • Hybrid basis – A hybrid facility would cover smaller contracts on a turnover basis and larger, longer projects on a contracts-attaching basis.

Advisory services

Alesco RMS is pleased to offer a range of advisory services which can add significant value to our placement services. They include:

  • Insurance programme design and renewal strategy
  • Contract reviews
  • Claims administration & management
  • Insurance programme administration – policy documentation, premium allocation, invoicing, and certificates
  • Training & knowledge transfer
  • Regular insurance market updates
  • Benchmarking.

Please get in touch

Do talk to us about reviewing your current cover, insuring a new project or exploring our popular facility approach. Our key contacts are listed below.

View our glossary of insurance terms

Contractor Insurance Solutions Key Contacts