Contractors

Some construction companies procure contract works insurance policies on a case-by-case ad-hoc basis when required to do so as a contractual obligation or requirement.

While this may be an appropriate and necessary approach for very large projects, for heavy civil works (such as tunnelling and wet works) and projects in specific natural catastrophe zones, there is an effective and advantageous alternative for a contractor’s portfolio.

Marsh works with many national and multinational contractors to design and arrange annual or multi-year insurance facilities that automatically include all projects within pre-agreed parameters and limits, without the need to arrange single project policies.

There are many advantages for a contractor adopting an insurance facility approach, including:

Simplified tenders.
Reduced administration.
Certainty of cover.
Insurer relationships.
Cost savings.
Claims response.

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This publication is not intended to be taken as advice regarding any individual situation and should not be relied upon as such. The information contained herein is based on sources we believe reliable, but we make no representation or warranty as to its accuracy. Marsh shall have no obligation to update this publication and shall have no liability to you or any other party arising out of this publication or any matter contained herein. LCPA 24/065

“Marsh Pty Ltd (ABN 86 004 651 512, AFSL 238983) (“Marsh”) arrange this insurance and is not the insurer. The Discretionary Trust Arrangement is issued by the Trustee, JLT Group Services Pty Ltd (ABN 26 004 485 214, AFSL 417964) (“JGS”). JGS is part of the Marsh group of companies. Any advice in relation to the Discretionary Trust Arrangement is provided by JLT Risk Solutions Pty Ltd (ABN 69 009 098 864, AFSL 226827) which is a related entity of Marsh. The cover provided by the Discretionary Trust Arrangement is subject to the Trustee’s discretion and/or the relevant policy terms, conditions and exclusions. This website contains general information, does not take into account your individual objectives, financial situation or needs and may not suit your personal circumstances. For full details of the terms, conditions and limitations of the covers and before making any decision about whether to acquire a product, refer to the specific policy wordings and/or Product Disclosure Statements available from JLT Risk Solutions on request. Full information can be found in the JLT Risk Solutions Financial Services Guide.”

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