Construction is an essential industry for the global economy and activity in the sector is constant. There will always be a need for the renewal of existing and the creation of new infrastructure. But as the build cycle is often driven by socio-economic factors, it can be quite volatile. Construction companies need to have an acute awareness of current and emerging risk issues and be able to respond quickly to changing circumstances.
Digitalization, environmental, social, and governance (ESG) factors including climate risks, rising construction costs, and supply chain chokepoints are some of the current challenges shaping construction companies’ risk profiles. Understanding their impact allows for the design of a considered risk management framework that balances an organization’s retention, management, and transfer needs.
Marsh's globally integrated team of more 1,200 construction industry specialists helps clients deliver construction projects in all regions of the world. For more than 30 years, we have supported businesses by accurately assessing their risks, minimizing uncertainty, and embracing safety as a business enabler.
We will work alongside you to craft construction risk and insurance strategies unique to the pressures you face. We can help you design and implement programs that align to your strategic objectives, optimize your capital, and protect your business now and into the future.
What sets us apart?
- Depth of expertise: Our team of over 1,000 construction professionals operate in more than 130 countries. Our teams have a deep understanding of contractual risk and the insurance market. Wherever our clients operate, we can provide the insurance expertise to meet their needs.
- Unique facilities: Marsh offers a range of proprietary insurance solutions tailored to address your specific risks. One such solution is Fast Track, an innovative facility that offers pre-arranged capacity from Lloyd’s of London insurers across all relevant lines of insurance for placements worldwide. Whatever risks our clients face, we can provide Marsh solutions.
- Multi-class solutions: We provide unified services, delivering solutions through our dedicated practice for all the standard construction insurance classes, as well as ancillary and associated classes, including marine, motor, office and contents, and pension trust liability. You can have a single Marsh point of contact for all your insurance needs.
- Market knowledge: Our reach and experience can assist clients in negotiating premiums, design program structures, and resolve major claims. In 2024, Marsh placed more than US$6 billion in construction insurance premiums. Promoting favorable outcomes at every stage of the insurance process.
- Benchmarking studies: Our extensive client portfolio enables us to conduct detailed benchmarking studies and silent reviews. Offering peace of mind that your cover aligns with industry standards and reflects the latest market conditions.
- Enhanced claims solutions: Our claims team, consisting of more than 100 claims handlers, includes former insurers and loss adjustors. Our skilled claims specialists work with clients at every step, applying a proven claims management and resolution methodology to help you recover your full entitlement.
- Risk consulting and advisory capabilities: This includes engineering and enterprise risk management, probable maximum loss (PML) studies, risk finance optimization (RFO), claims management, and loss control solutions. We are committed to helping you understand and manage your business risks effectively.
- Embracing/Utilizing AI: Marsh McLennan’s internal generative AI assistant, LenAI, harnesses the capabilities of ChatGPT in a safe, secure environment. Unlocking new ways to be responsive, agile, and efficient for our clients.
