“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."

(Insurance Business UK - September 2021)

“Sedgwick’s newest report on building repair costs in the UK reveals how the COVID-19 pandemic exacerbated issues the sector was already experiencing even before the coronavirus hit.

According to the firm’s Q1 UK building repair cost review, there was a 5% increase in repair costs during the period. Sedgwick noted that during the quarter, many manufacturers operated at reduced output as a result of the pandemic. The report also suggests that cost increases could continue to rise to 7% by the end of 2021."

(Insurance Business UK - September 2021)

“Despite the bill being welcomed, insurance industry leaders highlight concerns for buildings under 18 metres tall as ‘fire does not respect arbitrary height limits’

The government published its Building Safety Bill yesterday (5 July 2021), aiming to create lasting change and a clear pathway for the future on how residential buildings should be constructed and maintained.”

(Insurance Times - July 2021)