What next for construction?
With another underwriter pulling out of construction and a shift in the type of building work being funded, the sector is at a crossroads.
After the highly publicised downfall of Quinn Insurance at the end of March last year, Paladin Underwriting Agency has become the latest provider to say “I’m out” to the construction industry.
The Montpelier-owned firm closed its specialist contractors’ account just 18 months after it entered the market with the underwriter claiming that despite its “best endeavours” the account had failed to deliver on its business plan since its launch.
While no one can deny the impact the recession has had
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