Solution

Project Specific Contractors All Risks

Not all annual contractors all risk insurance is suitable for every project that can be undertaken in the UK. The solution is to create a site-specific project contractors all risk policy that will be placed for the duration of the contract, be specifically underwritten to the sites risks, and wordings arranged to be specifically in line with both your contractual obligations and funder requirements.

One project, one policy, complete confidence

An Owner Controlled Insurance Programme or Contractor Controlled Insurance Programme brings together some of the key covers including contract works, third party liability, non-negligent liability, anticipated loss of rent or profit, site specific plant and equipment. Where required it can include cover in part or in full for all stakeholders involved in your project including contractors and funders.

The exposures incurred on annual placement and the gaps filled for your project

High Value schemes

An annual contract works policy will usually be capped for maximum value, and maximum duration. Where the scheme greatly surpasses these metrics then a specific policy is required.

Work in Hazardous locations

Work in Hazardous locations
Annual covers will generally exclude any work on or near a hazardous location. But the list of hazardous locations will often include waterfronts which are ideal places to build new homes.

Timber Frame contracts

Most annual insurances will have either a strict exclusion of timber frame or the cover will be limited to a max contract value such as £2-10 million and/or will restrict the height of any one timber frame building.

Specific Funder requirements

Funders will usually require specific covers to protect themselves including composite insured, non vitiation clauses and first loss payee which some insurers are reluctant to provide.

No Principal contractor or multiple Principal Contractors

Where a project is delivered without a single Principal Contractor, or with different Principal Contractors across multiple phases, gaps in insurance cover can arise. This can create uncertainty around responsibility for defects and other project risks. OCIP brings all phases, contractors and subcontractors under one policy, providing seamless protection throughout the development.

Major Work on Existing Structures

Major construction works can put your existing property insurance at risk. Insurers may reduce cover, exclude damage during the works, refuse to note contractors on the policy, or even withdraw cover altogether.

Cover designed to your project

Cover can be structured around the specific requirements of your project, including its value, duration, contractual obligations and funder requirements.

Long term and High Value Schemes

Long term and High Value Schemes No project is too large or too long to be considered on a project policy. Our policies work with insurers for the duration of the build. If we exceed the length or the estimated value then the policy can be tweaked for an additional premium. Our policies are flexible to work with changes in plans and designs as your project progresses and markets/demands change.

Contract Conditions

The cover is designed specifically to work with your contractual conditions. We will work with you to understand the exposures due to contract and adapt the policy specifically to your requirement.

Conversions

Our specialists are on hand to support the placement of your site-specific Contractors All Risks programme requirements, including specialist cross-cover expertise, attending surveys on higher-risk sites, reviewing funder requirements and helping ensure contractual requirements are reflected in the cover arranged.

Work on or near Hazardous locations.

We work specifically with the underwriters, your design team and surveyors to bespoke cover and risk management requirements during the project

Hazardous or bespoke materials.

We avoid harsh conditions that would make the project impossible but instead with your team to find a best solution where cover is not reduced and instead the risk is managed

Changes in contractor

Where one contractor leaves and another is replaced the cover is not guaranteed to pick up the previous works Where one contractor becomes insolvent and the site stops usually the insurance stops too. Our OCIP policies are flexible to allow changes in contractor without losing cover and breaching funder requirements.

Long term and High Value Schemes

Long term and High Value Schemes No project is too large or too long to be considered on a project policy. Our policies work with insurers for the duration of the build. If we exceed the length or the estimated value then the policy can be tweaked for an additional premium. Our policies are flexible to work with changes in plans and designs as your project progresses and markets/demands change.
Contract Conditions

The cover is designed specifically to work with your contractual conditions. We will work with you to understand the exposures due to contract and adapt the policy specifically to your requirement.
Conversions

Our specialists are on hand to support the placement of your site-specific Contractors All Risks programme requirements, including specialist cross-cover expertise, attending surveys on higher-risk sites, reviewing funder requirements and helping ensure contractual requirements are reflected in the cover arranged.
Work on or near Hazardous locations.

We work specifically with the underwriters, your design team and surveyors to bespoke cover and risk management requirements during the project
Hazardous or bespoke materials.

We avoid harsh conditions that would make the project impossible but instead with your team to find a best solution where cover is not reduced and instead the risk is managed
Changes in contractor

Where one contractor leaves and another is replaced the cover is not guaranteed to pick up the previous works Where one contractor becomes insolvent and the site stops usually the insurance stops too. Our OCIP policies are flexible to allow changes in contractor without losing cover and breaching funder requirements.

How we support you

Our specialists are on hand to support the placement of your site specific Contractors all Risks programme requirements.

Our service offer include:

Specialist cross cover expertise
Attending surveys on higher risk sites to ensure you understand the risk management requirements
Reviewing your funder requirements to ensure cover is in line and the funder can sign off quickly and easily
Reviewing you contractual requirements to ensure cover is line

Being on hand to manage any changes as and when needed throughout the duration of the build.

Our People

Meet the team

Mitch Cookney

Managing Director, Construction