Our construction team has an extensive track record of successfully handling the insurance and risk management needs of well over 100 major real estate projects, specialising in Owner Controlled Insurance Programmes (OCIPs). In addition to programme design and placement, we are renowned for resolving technical and contractual issues for developers and their professional teams, providing latent / inherent defect solutions and mitigating legal indemnity risks (e.g. restrictive covenants, defective title and rights of light).

We have wide access to the market leading construction insurers for more complex developments, whilst cover can be provided at short notice through our own delegated underwriting authorities for smaller projects, including new builds, fit-outs, refurbishments and alterations.

As owner / developer, we strongly recommend that you stay in control and insure the construction phase of your development rather than leave it to the contractor. If you are undertaking any medium to large sized project we therefore suggest that you choose the relevant Joint Contracts Tribunal (JCT) clause that makes the employer responsible for the insurance.

Our bespoke, warranty-free owner controlled package policy encompasses multiple benefits:

  • In addition to covering construction ‘all risks’, retained structures and third party liability, it will protect your exposure to delays in completion and non-negligence issues
  • It allows you to establish the probable insurance cost of a project at an early stage of its evaluation
  • It gives you the ability to dictate the basis of cover, limits and excesses; to ensure that adequate insurance is maintained throughout the period of the contract; and satisfy lenders’ requirements
  • It means that the terms quoted will reflect your own loss history rather than that of the contractor
  • It gives you direct control over the use of claims payments for the repair of damage
  • It allows you freedom to choose a financially strong insurer with a dedicated claims team who are experts in handling the complex issues associated with construction
  • It enables you to use one insurer who will therefore have a real incentive to deal with the reinstatement of damage as quickly as possible in order to mitigate the loss of rent claim

Please contact our office to discuss your insurance requirements with one of our experts.