Construction

Give your business a competitive advantage

Risk creates uncertainty that can increase costs, erode stakeholder confidence and hinder project delivery. Wherever you are in the construction journey – from project conception to completion it is important to be risk-aware and ensure you have the necessary insurance to cover accidental risks of physical loss or physical damage during construction, third party liability and advance loss of profits.

Insurance solutions for all stages of project delivery

Our breadth and depth of experience, market presence and dedicated construction specialists located across Asia ensure that we deliver the insurance, risk management advice and support that your business needs. We have a detailed, local understanding of the issues you face and access to an extensive network of the world’s specialist insurers.

Insurance that delivers when you need it most

We are committed to providing exceptional standards of service through innovative insurance and risk management solutions. This will assist you in achieving your business goals, whether that be reducing or controlling claims costs and financing risks - enabling you to deliver your projects on time and to budget.

Specialist expertise

Project owners, developers, architects and engineers, contractors and trade specialists at every level depend on our team’s expansive construction risk expertise. Our approach to risk extends beyond buying insurance and the efficacy of our client partner’s approach to risk, including management controls and risk financing strategy, is a key component of the risk transfer process.

Our products and services

We offer a range of products including:

•  Contract Works
•  Third-party liability
•  Delay in start-up
•  Surety
•  Cyber
•  Parametric products (non-damage business interruption)
•  Statutory liability
•  Builders warranty
•  Marine cargo and transit

Our services include:

•  Claims advocacy
•  In-depth contract review and advice
•  Negotiation with lenders and legal (due diligence)
•  Risk control services and consulting
•  Analytics
•  Program design (annual, project specific, and difference in conditions)

Secure your site with a bespoke wrap-up program

Whether it’s a commercial, residential or engineering project, it is important to protect against a potential loss of revenue should a contractor or subcontractor incident occur.

Lockton’s Controlled Insurance Programs or Wrap-Up, is tailored to your complex needs and specific project requirements.

Integrating loss control, claims management and risk management under a Controlled Insurance Program, all enrolled contractors and/or subcontractors at the project site receive adequate and consistent coverage aligned to contract requirements.

We operate in the following key areas:

•  Onshore power and energy
•  Oil, gas and petrochemicals
•  Mining
•  Commercial and residential building and civil engineering

Our team

Our specialist brokers have significant experience within the construction and engineering industry, and are ready to work with you in understanding your business and exposures, find innovative solutions and focus on turning insurance and economic market changes into advantages.