Government Infrastructure

Government Infrastructure
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Our Government Infrastructure group provides dedicated technical insurance services to state-sponsored projects/assets.

State and Federal investment in infrastructure is at unprecedented levels. Government, as project sponsor and owner, is seeking high levels of risk assurance driving value for money principles without compromising safety, quality and project delivery. Project stakeholders are expected to meet the levels of risk assurance set out by the State and Federal Governments.

The demand is for more effective and more systematic approaches to risk and risk solutions. 

Infrastructure projects have become and will continue to become significantly larger and more complex. 

The Lockton team is unrivalled for experience and know-how and has advised and placed insurance for major infrastructure projects/assets on behalf of Government and project owners/sponsors across Australia, and internationally. Our team between them has:

•  >200 years them handling major infrastructure/ building projects
•  >$150bn worth of contract values representing projects advised and insured

    Experience is critical

    Public Private Partnerships (PPP), alliance, design and construct, construct only of roads, tunnels, bridges, hospitals, prisons, utilities are present risk challenges that are very different from private developments. Government requirements, expectations, risk tolerance and variety of stakeholder interests present complexities unique to state-sponsored projects. 

    Overlaying this unique profile is an insurance market that is best described as challenged, with fewer insurers, narrowing of cover, increasing deductibles, and higher costs, all now commonplace. Attracting insurers to underwrite infrastructure risks is more difficult today than it ever has been - yet innovations are also available to those projects that can differentiate.

    Analytics, loss modelling and parametric solutions: climate change challenges

    We look beyond the traditional and search wider to find new answers and alternative solutions. 

    Our analytics and loss modelling capabilities allow our clients to look at known risks through a new lens; identifying new solutions to old problems.  We also design and procure non-traditional parametric solutions for our clients; providing greater certainty for projects against weather events, such as wind, flood, rain, cyclone, heat and other similar weather. 

    Fulfilling a distinctive need

    With no conflicting interests we are able to provide full insurable-risk related advisory, full insurance program design and market placement, claims advocacy, contract and wording reviews and dedicated project advisor/broker; from project conception through to project commercial operations. 

    With more than $100bn of infrastructure spending expected by 2030, the need for expertise and experience has never been greater. Lockton is committed to supporting successful sustainable projects that benefit all Australians.

    Our team

    The Lockton team, unrivalled for experience and know-how, has advised and placed insurance for major infrastructure projects/assets on behalf of Government and contractors across Australia, and internationally.

     

    Broking done differently

    We're more than an insurance broker -
    we're independent specialist risk consultants

    • Find the right fit
      We will always ensure to understand your financial goals and position and use our know-how to create a strategy that fits your objectives
    • Predict impacts on your business
      We combine detailed modelling and financial analytics to show you the effect of an insurance program on your business and the risks you face
    • Fight for you
      We are not afraid to challenge insurers on your behalf to achieve the best result for you
    • Stay up to date
      We keep up with developments in your industry, to make sure we understand your business
    • Keep costs low
      We help risk financing come up with lowest cost or most suitable program
    • Global Expertise
      Lockton, Inc. is the world's largest privately held insurance brokerage firm