Construction contributes nearly £90bn to the UK economy and employs 2.9 million people. With the global construction market forecast to grow by over 70% by 2025 the opportunities are significant. And so are the complexities.
Whether you are a developer, employer or responsible for budget management, having construction insurance in place is fundamental to managing the risk associated with those complexities. Building confidence and protection can be as important as building the project itself. Without it, critical project milestones can be missed, stakeholder trust can be eroded, reputational damage can be suffered and ultimately, costs can quickly spiral out of control.
We can do much more for your project
At Griffiths & Armour, we do much more than place insurance cover for our construction industry clients.
As well as designing and placing a comprehensive insurance programme that protects your project, we are on hand to liaise with stakeholders or funders where appropriate and have continuous involvement in service delivery throughout the duration of any project.
We can also provide a due diligence service, including a review of your current contracts or proposed insurance covers and advise on collateral warranties and bonds. Our clients regularly tell us this attention to detail and support made the biggest difference in provided them with total confidence and peace of mind throughout the project.
A proven track record in construction
We have a proven track record in successfully delivering and supporting our clients through the unique culture and complex challenges which are often associated with major construction projects. You can expect to be introduced to a construction project insurance specialist who will ensure the right people with the right technical skills are involved at all key stages of your construction project.
Unlike many other brokers, our Claims Management team is in-house, so if the unexpected occurs, we are on hand immediately to take control of the situation on your behalf. Our priority is ensuring the claim is managed and settled quickly, efficiently and with minimal disruption to the project timeline.
Our clients range from major property developers to civil engineering contractors of all sizes, including large corporations, public sector organisations and property owners. The solutions we can assist you with include:
- Contract Works
- Public Liability
- Non-Negligence Liability
- Delay in Start-up / Consequential Loss
- Professional Indemnity
- Latent Defects
- Legal Indemnities
Are you a developer or an employer of contractors? If so, are you using critical project time to audit contractor policies to ensure exclusions or conditions don’t put your project at risk by invalidating your protection?
Griffiths & Armour has the solution.
Our Employer Controlled Project Insurance delivers a fully integrated solution, eliminating duplication of cover, reducing costs and giving you total confidence of protection, leaving you to concentrate on the project rather than auditing your contractors and suppliers. Find out how our Employer Controlled Project Insurance can help you by clicking here.
A commitment to innovation across the construction industry
Integrated Project Insurance (IPI), developed exclusively by Griffiths & Armour, is a pioneering pilot programme as part of the UK Government’s Construction Procurement Strategy and designed specifically for the construction industry to promote a collaborative and shared benefits approach to all parties involved in a major construction project.
We are proud to be recognised as one of the few insurance brokers in the UK with a true understanding of Building Information Modelling (BIM) and the insurance implications of its use.
We believe that an entirely different approach to insurance and risk management is now required to deal with the considerable changes regarding how construction projects and the supply chain are procured, managed and funded.
IPI sets out to deal with these changes, insuring the whole project team, including the client, against all risks so they can concentrate on taking an innovative approach to progressing the project rather than having to cover themselves individually against potential problems because all rights of subrogation are waived.
In addition to supporting collaborative working and the use of integrated teams, IPI also aims to help drive out waste, deliver innovation and provide better, more cost effective solutions. Liabilities to third parties arising during the construction process are covered. There are no internal liabilities to consider and the project team operates on a completely blame-free basis.
Whilst IPI is currently operating as a pilot project, we are keen to hear from you if you have any questions on Integrated Project Insurance or have any potential projects that could be included in the trial.
If you are interested in reading more on our IPI proposition, please click here: Integrated Project Insurance
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