Site for sore eyes
Construction equipment gets stolen with monotonous regularity, and thefts have increased in recent years. Martin Ball looks at some solutions
Two years ago, construction plant insurance was at its lowest ebb.
Loss ratios were typically above 100% and insurers needed to balance their books or stop writing plant business altogether. As a result, premiums increased substantially across the board and those policyholders with high loss ratios were hit particularly hard.
The outcome has been improved loss ratios - but it has also driven some firms to self-insurance. This has had a negative effect on the insurance industry and construction
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