Construction and engineering Hub
Welcome to Insurance Age’s Construction and engineering Hub. This page hosts all of our Construction and engineering product news and insight to help the market keep abreast of latest developments and to boost their business development strategies.
Product Hub: Construction and engineering
Welcome to Insurance Age’s Construction and Engineering Product Hub. This page hosts all of our construction and engineering product news and insight to help the market keep abreast of latest developments and to boost their business development strategies.
Product overview: Construction and engineering
Major infrastructure projects such as HS2 and Hinkley Point C coupled with the UK’s constant demand for housing, mean the construction and engineering sector is a significant part of the UK economy. But, after many years of a soft insurance market, it’s facing challenges as insurers adjust their appetites following a series of large losses in the last five years.
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Allianz aims to boost broker interaction as it restructures renewable energy
Allianz Engineering, Construction & Power has brought its renewable energy experts into one team, with the ambition of growing its green power portfolio.
Aviva enters offshore wind insurance market
Aviva has extended its renewable energy insurance offering into the offshore wind market.
Miller launches new D&O product
Miller has launched D&O Construct, a new product for the UK construction sector, designed with Dual.
JMG Group exceeds £200m GWP with latest broker buy
JMG Group has purchased Wokingham-based BJP Insurance Brokers, a deal which will see the group exceed £200m in gross written premiums.
Iprism buys Metier Underwriting
Managing general agent Iprism has struck its first deal buying specialist underwriting agency Metier Underwriting for an undisclosed sum, Insurance Age can reveal.
Biba issues series of commitments after FCA flat insurance report
The British Insurance Brokers’ Association has set out a series of commitments to the Financial Conduct Authority and the government to help achieve better outcomes for leaseholders, especially those living in high rise residential buildings that require…
Focus joins forces with NIG to launch contractors liability facility
Specialist construction managing general agent Focus has teamed up with NIG to launch a contractors liability facility designed especially for smaller contractors.
Acrisure continues UK expansion with CRK Commercial Insurance Services buy
US-based Acrisure has made its second UK broker purchase with CRK Commercial Insurance Services, following the acquisition of Russell Scanlan.
The stats: Q2 2022 - Pricey premiums pile on the commercial pressure
There have been rises across all classes, except fleet, as recent figures from the Acturis Commercial Lines Index reveal, putting pressure on companies. Rachel Gordon reports
Iprism integrates with Acturis
Managing general agent Iprism has added its tradesman, contractors and professionals product to the Acturis trading platform.
TL Dallas targets more branches after recent expansions
TL Dallas will open at least one more branch this year, managing director Polly Staveley has revealed to Insurance Age as she confirmed recent cost of living pay rises for all staff.
GRP-owned Newstead buys Crendon Insurance Brokers
Birmingham-headquartered Newstead Insurance has purchased local commercial competitor Crendon Insurance Brokers.
HSB creates new commercial division
HSB UK and Ireland, part of Munch Re, has bought together its business development, customer trading and claims areas under a newly created commercial division.
Amicus hits £22m in GWP and sets sights on M&A
Amicus CEO, Adam Scott, has told Insurance Age that the broker is looking to do deals as it aims to become the largest construction waste broker in the UK, following last year's MBO which was supported by Shawbrook Bank.
The Stats: Q1 2022 - Cost of commercial cover continues to climb
Recent figures from the Acturis Commercial Lines Index shows business insurance remains on a relentless upward trajectory. Rachel Gordon reports
MS Amlin teams up with Altelium on battery energy storage insurance
MS Amlin Underwriting has partnered with insurtech Altelium to launch a battery energy storage system construction all risk and operational all risk insurance solution.
Marsh McLennan responds to reports it is broking for oil pipeline project
Marsh McLennan has declined to confirm if it is arranging insurance for the East Africa crude oil pipeline but said it recognised the importance of a “secure energy supply” and flagged its commitment to helping businesses develop low-carbon models.
DR&P buys Channing Lucas & Partners
DR&P Group bought a 90% stake in Lloyd’s broker Channing Lucas & Partners late last year, according to a filing at Companies House.
Opinion: The importance of the right chemistry for schemes and DAs
Axa UK’s Gary Head explains why the formula must be right to achieve long-term success
QBE launches contractors combined for mid-market
QBE has launched a contractors combined product targeting the evolving needs of middle market construction customers.
The Irish broker market: Consolidation and compliance
David Worsfold visits the Emerald Isle to learn more about how the broker market is developing and asks if the next wave of consolidation will be an Irish one
Blog: Bona fide sub contractors – a hard sell?
Martino D’Aliesio, lead underwriter – casualty at Ensurance, on the key questions for brokers to guide their construction clients through the complex bona fide sub contractors area.
PIB reshuffles management team
The changes include Adrian Colosso becoming chairman of its specialty business and Bernard Macgeean set to become chair of Q Underwriting and PIB’s Schemes & Affinities.
Markel UK hires broker divisional director
Provider promotes Nic Brown to the newly created role in push to develop broker relationships.
First Underwriting eyes £130m GWP
The MGA is also looking to expand into fresh product lines following its £1bn capacity deal with Accredited.
Allianz brings EC&P operation into commercial
The division now falls into one of four commercial regions.
