Risk advice and insurance for
I specialise in providing risk advice & insurance solutions to the construction sector including property developers, contractors, engineers, tradesmen & specialist construction consultants.
To find out if I can help you insurance your construction business, use my super simple online booking system to set up a meeting with me.
Protecting your construction business or contract works project
From complex commercial and residential development projects to a single property build, construction at every scale is fraught with risk and uncertainty.
Risks include planning permission and building regulations compliance, funding and finance challenges, site accidents (resulting in both property damage and injury to employees, contractors and third parties), plant and tool theft, design and defect risk, the availability and changing prices of raw materials, costly site discoveries (including pollution and archaeology), and the insolvency of customers, suppliers and consultants.
To ensure that your construction business or contract works project is fully protected, these risks and more need to be identified and understood. Then they need to be either mitigated or transferred to the insurance market so that if there is a loss, the right cover is in place to make sure your project still has the best chance of being delivered on time and on budget.
Insurance for the Construction Industry
I can help property developers, builders, contractors, tradesmen and specialist property consultants with…
Construction projects can be complicated undertakings, and if any problems were to arise before the project is completed, things can become difficult to resolve. Imagine you are working on the framework of a two-storey detached home. One night, a devastating summer storm rolls in and relentlessly batters the building site, effectively undoing several weeks of progress.
Finding the right home can be a difficult, discouraging experience. Prospective homeowners can have long lists of criteria for their ideal home, such as a specific location or certain amenities. The difficulty of finding a home that ticks every box can push some buyers to build their ideal home instead, either with the assistance of a contractor or by themselves. Regardless of which option you choose, there are inherent risks involved with the project—risks which you need to be adequately covered for. The only sure way to protect your sizeable investment and new, bespoke home is with self-build insurance.
Owning an unoccupied building can pose serious liabilities because unoccupied buildings are more susceptible to vandalism, undetected repairs, fire and other losses. If you own unoccupied property, it is advisable to purchase unoccupied property insurance, also known as unoccupied building insurance to protect against risks.
As a tradesman, you belong to a group of workers skilled in a variety of highly specialised trades and crafts. The term ‘tradesmen’ refers to builders, plumbers, electricians, carpenters, roofers and more. Because the definition of tradesmen is so broad, it can be difficult to choose the cover that best protects against the specific risks you face. The following provides an overview of the main types of cover that are applicable to most tradesmen.
Most people think that personal accident insurance is only purchased by individuals through their personal lines policies, but businesses can also benefit from buying personal accident insurance. Group personal accident policies can be purchased by employers as a benefit for employees and their dependents. They can also be purchased to protect against the financial effects of losing the services of an employee. The insurance can be used to help the company recruit or train new staff while an employee recovers from a covered injury, or it can help pay ongoing wages to an injured employee.
If a fire causes the facility to be temporarily unusable, what would you do next? Would your business be able to pay utilities, wages or any other standing charges without income? It could take months before the damaged property is rebuilt and the stock, machinery and equipment are repaired or replaced. Ideally, you would move to a temporary location while your permanent place of business is being repaired. Yet, traditional property insurance does not cover this move or a loss of income when a business must temporarily close. This setback can be minimised by adding business interruption (BI) insurance to your property insurance policy.
You know that insurance is essential for your construction business, but did you know that not all construction insurance brokers are the same? If you tend to compare policies based solely on price and cover, then you are missing vital services that only select brokers can provide – services that will save you time and money. An expert broker in the construction insurance industry knows contractors need the right covers as well as services that include superior risk control, claims processing and underwriting service.
The only way to effectively protect the assets of your business is to carry adequate insurance cover. Liability insurance protects your business from damages caused by bodily injury or property damage for which your business is found to be legally liable.
Employers’ liability insurance protects employers from claims of negligence made by employees who suffer injury or ill health due to their work. Unlike most other types of insurance, employers’ liability insurance is compulsory. If you employ workers based in England, Scotland or Wales (including offshore installations or associated structures), your company must carry employers’ liability insurance to avoid fines.
From the moment you begin the pre-hiring process until the exit interview, you are vulnerable for an employment related claim. As a result, your business should take a hard look at whether it can afford to defend itself against alleged wrongful employment practices accusations. If not, there is an insurance solution called Employment Practices Liability Insurance (EPLI) that protects against employment related claims, including wrongful termination, discrimination or sexual harassment from your current, prospective or former employees. This cover applies to directors, officers and employees, and sometimes extends to third party liabilities.
Employment-related legal actions are a growing concern for employers of all sizes. As costs for litigation and damage awards climb, experts predict that employment liability will only become more complex. As a result, it is critical for employers to understand their exposures and options to manage the risk.
There has been an increase in litigation concerning workplace issues over the past few years, with employment tribunals awarding thousands of pounds for individual claims. This increase in litigation is partially due to employees becoming more aware of their rights and the implementation of worker-friendly employment regulations. Employment regulations affect both small and large businesses, yet alarmingly, many small businesses do not have employment practices liability insurance (EPLI) cover to protect against these claims.
Despite proper risk management practices, even the most successful and prepared organisations can find themselves suffering from the consequences of a legal dispute. And dealing with litigation problems certainly isn’t cheap—whether it be hefty fines and legal representation costs or excess time spent away from the office, such disputes can leave businesses with a broken bank and a tarnished reputation. Fortunately, insurance policies such as commercial legal expenses cover can help protect your organisation in these circumstances and set you on the road to recovery.
The need for professional indemnity (PI) cover has grown over the past several decades as more people enter professional service-based occupations. While PI insurance still covers ‘traditional’ professionals, such as doctors, solicitors, accountants and architects, a new market of professionals now need to consider PI cover. Whether a traditional or new professional, you can protect yourself, your business and your reputation by investing in professional indemnity cover. PI insurance safeguards against catastrophic losses in the event of a legal action due to a negligent act, error or omission by the professional. In addition to claims of error, omission or negligence, PI insurance may also protect against slander, libel and breach of contract.
Everybody makes mistakes. However, depending on your profession, one mistake could ruin your career if you neglect to purchase professional indemnity (PI) insurance. PI policies help protect professionals—such as accountants, engineers and architects—from any errors that they may have made while doing their jobs. These errors can include things like making a simple accounting mistake, providing negligent advice or constructing a structurally unsound building. With a PI policy, professionals are protected from claims filed by customers following errors. However, this type of policy only provides cover for errors made by active professionals. What happens when a PI claim is filed after a professional has ceased trading?
As an engineer or architect, you work in a highly skilled, detail-oriented industry and are expected to provide quality design services that are free of errors. Despite your expertise, the reality is that not all projects are error-free and mistakes are bound to occur. Even the smallest error can have serious consequences. If a client believes damages are due to a mistake on your part, they can sue your company. It is important to protect yourself against this potentially devastating liability. A professional indemnity policy will cover these costs in the event of such a claim, which may otherwise financially cripple your business.
In today’s business climate of corporate transparency and accountability, an organisation’s officers and directors face a myriad of employment-related exposures. Claims can come from many sources, employees, regulators, shareholders, creditors, customers, etc. Ever-changing regulations, increased employee awareness of employment rights as well as the rise of shareholder activism means directors are more frequently at risk, translating to rising claims and escalating settlement costs.
As technology becomes increasingly important for successful business operations, the value of a strong cyber-liability insurance policy will only continue to grow. The continued rise in information stored and transferred electronically has resulted in a remarkable increase in the potential exposures facing businesses. Regulations such as the General Data Protection Regulation (GDPR) must also be considered, because a loss of sensitive personal information may subject you to fines and sanctions from the Information Commissioner. In an age where a stolen laptop or hacked account can instantly compromise the personal data of thousands of customers, protecting yourself from cyber-liabilities is just as important as some of the more traditional exposures businesses account for in their general commercial liability policies.
Most people think that only businesses in certain industries such as waste management or chemicals manufacturing need environmental impairment liability. However, all businesses need to assess their environmental liability risks and review how their activities could affect the surrounding environment. Natural or man-made pollutants can be released through many different processes, and they take several different forms—including gases, powders and liquids. Businesses may not even be aware that they are gradually poisoning the surrounding environment by leaking pollutants.
Terrorism is not new, but the frequency, audacity and geographical reach of terrorist attacks have noticeably increased in recent years. Understandably, business owners, risk managers and insurers are concerned with mitigating the risks posed by increasingly prevalent, damaging and random terrorist attacks. Because losses, costs, damages and expenses from terrorism are typically excluded from standard commercial insurance policies, terrorism cover must either be added on as an extension or purchased as a stand-alone policy. By adding terrorism cover to your policies, you can protect your business from this evergrowing set of hazards.
Because your business depends on functioning equipment to operate and maintain revenue, a breakdown could be devastating. The threat of breakdown is increasingly prevalent because technologically advanced equipment tends to be sensitive and can easily sustain damage that causes breakdowns. The losses sustained will continue to increase with the rise of just-in-time manufacturing, Internet marketing and improved supply chain management. Problems with your equipment can be extremely risky if you are not properly insured. Equipment Breakdown Insurance will cover you in the event of damage or a breakdown.
As an employer, you need to ensure that your employees have a safe working environment, and part of that means conducting inspections on and maintaining work equipment. The purpose of an inspection is to identify whether work equipment can be operated, adjusted and maintained safely and to detect and remedy any issues before it results in a health and safety risk.
The UK is developing as an international merger and acquisition (M&A) hub for organisations across the globe. But while the process of buying or selling a business can be an exciting time filled with new opportunities, M&A deals are no simple task. For both the buyer and the seller, there are a variety of key risks to consider.
Managing your business’ fleet of vehicles—worth anywhere from a few thousand to millions of pounds— can seem like a Herculean task. As a fleet owner, you must ensure your employees are authorised to drive, that each vehicle’s use is covered in your insurance policy and that you can add or remove vehicles from your policy to coincide with your business’ needs. Fortunately, with a bespoke motor fleet insurance policy you do not need superhuman strength to manage your business’ vehicles. Compared to standard motor insurance policies, the average motor fleet policy is much more robust and flexible, making your job easier by reducing driver restrictions and allowing you to regularly add or remove vehicles from your policy. Unburden yourself by securing a comprehensive motor fleet policy for your business.