News

News 19 February 2018

SURA Construction predicts construction insurance trends

Soft trading conditions and plentiful capacity are likely to characterise the construction insurance market in 2018, while new construction methods like modular construction will be a key emerging risk in the sector, according to SURA Construction.

Jim Wiechman, underwriting manager at SURA Construction, has outlined some of the key trends facing construction insurance underwriters and brokers this year in a sector update published in insurance trade publication Insurance Business.
 
Wiechman said one issue facing brokers was the difficulty accessing dedicated construction-related training, particularly in regional areas, and brokers could use specialist underwriters like SURA Construction to keep up to date with the product knowledge they need.
 
“Construction insurance is a niche offering and a complex product, which does require both a thorough knowledge of the way the cover operates as well as a high-level understanding of how the construction industry operates,” Wiechman told Insurance Business.
 
“We’ve addressed this by publishing a series of ‘Know-How’ newsletters available at sura.com.au/construction, and I’d encourage insurance brokers who are interested in developing construction insurance knowledge to use them.

To read the full Insurance Business article, click here.

Read SURA Construction’s ‘Know-How’ newsletters.

Contact Us

Top

SYDNEY
Level 14, 141 Walker Street
North Sydney NSW 2060
PO Box 1813
North Sydney NSW 2059
02 9930 9500

Melbourne
Level 9, 99 William St
Melbourne VIC 3000
GPO Box 1281
Melbourne VIC 3001
03 8823 9400

Brisbane
Level 8, 500 Queen Street
Brisbane QLD 4000
07 3434 2626

Perth
Level 1, 35 Havelock Street
West Perth WA 6005
PO Box 1030
West Perth WA 6872
08 6380 6600

Hobart
Level 1, Suite 6
175 Collins Street
Hobart TAS 7000
03 6231 7700

Adelaide
178 Main Road
McLaren Vale SA 5171
08 8184 7541

 

Tuggerah
Suite 8.1 Zenith Business Centre
6 Reliance Drive
Tuggerah NSW 2259
02 4357 3800

National Claims Contact Information
02 9930 9580