With government commitment to significant road and rail projects over the next 7 years Australia’s Infrastructure Boom is here.
But are your clients exposed?
Your Contractor and Sub-Contractor clients engaged in major projects are potentially exposed to huge financial risk with contract deductibles and excess levels often set for the large corporate players.
At Pen Underwriting, we have seen contractors engaged on projects where the deductibles are greater than the contractors’ annual turnover. In the event of an insured peril resulting in a material damage claim, those contractors may be unable financially to ‘weather the storm’.
Our Construction Team offers tailored Difference In Deductible and Excess solutions to mitigate financial risk and give your clients the certainty they need when working on sizable projects.
Cover can be offered as part of an Annual Policy, or on a standalone Single Project basis, often utilising the principal or head contractor’s policy as the basis of the coverage thereby making it a true Material Damage DID-DIE Policy.
If you would like to know more or you already have a project or client in mind then contact our Construction team for more details.