Despite over-capacity and a tough economy dampening down rates, there are still opportunities for brokers in the sector
The UK construction industry has been the focus of intense scrutiny this year as the economy drifted back into recession. Scarcity of bank finance and government spending cuts have contributed to the sector’s woes.
The consolation for brokers is that, particularly in the corporate space, their role as intermediary is rock solid. When a construction project is in the offing, the risks involved cry out for independent, professional insurance advice. Plus the developers, contractors, engineers and other parties involved all need professional indemnity cover.
So despite over-capacity dampening down rates, there are still opportunities in the sector. The Knowledge this month looks at the construction projects at home and abroad that are keeping the insurance industry busy.
Harry Cockburn, data journalist