Date: Thursday 12 November
Webinar: Understanding the UK construction market hosted by YPO in partnership with Willis Towers Watson.
We'll be joined by special guests from Willis Towers Watson to cover key topics within the UK construction market.
The UK construction market is continuing to harden in 2020 with insurers considering how they can continue to write construction insurance in the wake of large losses during 2019. Several insurers have pulled out of the construction market altogether with those remaining being selective in the risks they are willing and able to cover.
Those insurers that continue to write construction insurance are doing so with the intention of increasing premium rates and reviewing scope of cover, particulary excess levels. Insurers are going to require detailed and quality information as well as sufficient time to consider how they might respond to requests for cover/quotations. It is also important for public sector organisations to understand the contract terms they are signing up to and what obligations relative to insurance apply to each party.
This webinar will cover:
UK construction market 2020
General market hardening/reduced capacity/cover restrictions/ increased excesses
Construction professional indeminty insurance market
What organisations/brokers can do
Sufficient time for underwriters to consider risk
Insurance provisions in contracts
Reviewing and understanding the obligations on each party relative to insurance
Agreeing contract terms early in the works procurement process
Guest speakers: Bev Bracey and Jon Thacker
Bev Bracey - Executive Director Government Sector Practice
Bev has over 30 years’ experience, joining Willis in 1986 after three years with a large composite insurer. Bev has been providing an insurance due diligence and insurance support servicing role to governmental and public sector clients since the early 1990s. Initially providing services to the NHS, in more recent years she has worked on a large number of governmental and public sector projects/insurance placements for central, devolved and local government entities.
Jon Thackery - Executive Director, Business Development, UK Construction Practise
Jon has over 32 years experience working in the insurance Industry and for the whole of that time has specialised in construction insurance. He has worked for Willis for the past 16 years and before that with other large major insurance brokers. During his career Jon has specialised in the placement and servicing of construction insurances for both Contractor’s Annual Insurances aswell as many Owner Controlled Insurance Placements, these placements have been for projects both in the UK and overseas. Jon is now in charge of the Business Development for the UK Construction Practice within Willis Towers Watson focusing solely on UK insurances.
View our entire series of free webinars in partnership with ESPO and NEPO.
Stay in the know with our procurement updates via @ypoprocurement and YPO Linkedin.