Construction and engineering facing “capacity blackspots”
Mactavish report claims that insurance companies are reluctant to underwrite the risks in some sectors as market faces “unprecedented” tightening.
Capacity for construction and engineering is shrinking according to a report by Mactavish and could lead to problems getting cover for some firms.
The company said the changes are being caused by insurance ‘capacity blackspots’ hitting certain industry sectors that have benefitted from a long period of attractive insurance pricing but have now become so complex that insurance companies are reluctant to underwrite the risks.
For example, professional indemnity risks in construction and
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