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Large Contractors

Large contractors face a multitude of on-site and off-site risks and the nature of their business means that they often face issues that they have not met before. The diversity of our construction team and the number of our major contracting clients provides us with substantial knowledge and our first hand experience can prove invaluable in determining the right solutions.

For example, Alliancing, in which risks associated with major projects are managed collectively between employers and contractors, is a growing trend in the construction industry. This presents a new challenge to insurers as it closes off the traditional subrogation route.

JLT has worked with a number of contractors involved in alliance partnerships, designing programmes to cover all parties for their various interests and building insurers' confidence in this contracting approach.

Another example would be our understanding of the complexities of joint ventures allowing us to suggest how the joint venture agreement itself can be adapted to produce the most advantageous insurance arrangement.

Professional Indemnity insurance can be especially important for many large contractors and our dedicated PI team are able to tailor the policy coverage and have a reputation for providing innovative and competitive solutions.

To remain competitive in the market, many companies look to benchmark their insurance premiums, limits and claims experience. JLT occupies a unique role here as the depth of our client base and the fact that we look after nine of the largest 15 UK contractors enables us to provide robust (but anonymous) benchmarking.

Quite often, a key issue is how to deal with attritional losses. We can provide advice on the most suitable risk transfer level and the mechanisms to employ, in order to manage self insured losses. For example, we have substantial experience in helping to establish and/or work with Captives and how you can maximise their effectiveness through reinsurance and the scope of coverage.

We also offer client training and seminars and can assist with survey programmes and actuarial services as well as the provision of an electronic claims system for reports providing real-time claims status 24/7.

To learn more about our Contractors Team read our brochure.