Capacity for construction and engineering is shrinking according to a report by Mactavish and could lead to problems getting cover for some firms.
The company said the changes are being caused by insurance ‘capacity blackspots’ hitting certain industry sectors that have benefitted from a long period of attractive insurance pricing but have now become so complex that insurance companies are reluctant to underwrite the risks.
For example, professional indemnity risks in construction and
- Three insurance firms on FSCS insolvency list
- Aspen Risk Management to be placed in runoff
- Aston Lark on cusp of £320m Goldman Sachs investment
- Esure hires former Aviva UKGI boss David McMillan as CEO
- Biba will return to Manchester in 2020
- Aston Lark confirms Goldman Sachs investment deal
- FCA warns of clone MGA