A contracting market?
Although regulation means most contractors must have insurance, hard bargaining and low rates mean that building up broker business in this sector is not easy. Astute brokers are targeting niche markets, says Diane Smyth.
Contractors' insurance is a mixed bag for brokers. The good news isthat it is nearly always sold through intermediaries. As Ian Ross, project
manager for construction at St Paul's, says: "The broker serves a vital
role; construction is a complex animal." David Randle, managing director
of Lloyd's broker Tyser, adds: "Brokers add a lot of value and help to
differentiate the good risks from the bad."
Also on the plus side, most contractors have to have insurance. James
Howard, assistant property
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