WHAT WILL IT TAKE TO BUILD A PROFITABLE CONSTRUCTION INSURANCE MARKET?
Source: Insurance Business UK - September 2021.
“It’s more important than ever to build a sustainable future for the construction market. That is the crux of the message delivered by the AXIS Capital construction insurance team during their recent IB Talk podcast, where they emphasised the need for practical, actionable solutions to achieve that sustainable future.
Raj Brar, senior underwriter of delegated and CPE at AXIS Capital, noted that previous sharp exits of capacity in the market left a lot of clients and customers without carriers who could see their project through to the end, and impinged on binders and coverholders who couldn’t get renewals. He believes that this has highlighted the need for a sustainable, profitable market that can survive even the most tumultuous of market cycles."