The future outlook for construction insurance?

Constructing Excellence recently hosted a roundtable discussion with key players from insurance and construction to discuss current trends and the future outlook for their sectors. The event was organised by Lucas Fettes and was chaired by Richard Heighton, their Managing Director. Key themes discussed included: New emerging risks in the sector; how technology and data will affect understanding of risk; the importance of collaborative working and early involvement including of insurers; and new models of insurance linked to new models of funding and finance. More information is available here and in this video:

Don Ward, Chief Executive of Constructing Excellence said, “The topic of risk management comes up in just about every conversation we have about improving performance – understanding risk, who bears or shares it, and the maturity of its management. We wanted to speak with insurers about working more closely with their sector and how that could enable a better future for both industries, and we wanted to share some of the data we have on the better predictability of delivery of projects as well as information on emerging new procurement models including insurance-backed ones. As ever, collaborative working and early involvement will be key to success.”