We provide advisory, placement and claims services for major commercial and industrial port & terminal construction projects.

Alesco RMS has a specialist broking team which focuses on arranging insurance for multiple parties involved in the construction of ports & terminals. We have helped to protect multi-billion dollar projects around the world, and can offer direct access to local support in 150 countries.

Port & terminal construction projects have a distinctive risk profile, requiring a carefully balanced strategy for risk mitigation. They usually involve a blend of onshore construction (such as buildings and warehouses) plus the marine construction of jetties, piers, breakwaters and quay walls.

Why we’re different

  • Our team has considerable experience of arranging insurance for ports & terminals construction projects; this means we have an in-depth understanding of port & terminal construction projects and their risks
  • We work closely with underwriters to provide innovative cover which goes beyond the market’s standard provision; for example, we can offer broad coverage, high limits and great clarity when insuring wet works
  • Since your risks may be complex, we encourage you to present your project to potential underwriters in person, with our support, so that they can fully understand your requirements
  • We have our own bespoke wording which our insurers have all agreed to use
  • We have a close relationship with a risk engineering consultancy specialising in large civil-engineering projects, who can help to present your risks more precisely (see below)
  • Our broking specialists have spent many years building strong relationships with the key underwriters on the global insurance & reinsurance markets, all controlled and delivered from London
  • We can transact in over 150 countries – accessing local coverage and servicing where required, which can then be reinsured through us on the major markets
  • We have claims, financial consulting and risk modelling specialists embedded within our broking teams
  • We will review your contracts and create an insurance programme which meets the requirements of all of your stakeholders, including the lender of project finance.

Broad coverage for wet works

Marine construction, or ‘wet work’, carries more unusual risks, such as extreme sea conditions and natural catastrophes. As a result, brokers are often limited in the scale and scope of cover they can offer, and may struggle to offer attractive premiums. However, thanks to our technical understanding of the contractual and risk issues, and our strategic relationships with the major insurers, we’re able to offer more robust and effective risk-transfer and insurance-placement strategies.

Our advisory services

Alesco RMS provides a broad range of services, including contract review, advice, risk engineering, insurance placement and claims management for ports & terminal projects around the world. As part of the service, we pay due consideration to:

  • Any dredging activities
  • The design of marine works
  • Exposure to natural hazards, including the potential impact of normal actions of the sea
  • The interface with operational shipping and/or existing port operations
  • Cargo-handling equipment
  • The transition from the construction to operational phases.

Risk-engineering consultancy

If required, we will invite a risk-engineering consultancy to consider your project and its construction methods, and to create a clear and exact risk profile for you. This will help your potential underwriters to better understand your requirements, so you’ll be neither under- nor over-insured – you’ll have the right cover, but with broad coverage, at a  competitive price.

Types of insurance

We can provide a comprehensive programme of cover for your port or terminal construction project, such as:

  • Construction all-risks cover
  • Delay in start-up cover
  • Third-party liability insurance
  • Environmental liability insurance
  • Operational material damage cover
  • Business interruption insurance
  • Marine cargo insurance
  • Marine delay in start-up cover
  • Terrorism cover.

Please get in touch

We welcome your enquiries about insuring a port or terminal construction project. Our key contacts are listed below.

View our glossary of insurance terms

Ports & Terminals Key Contacts