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Construction insurance – are premiums and risks going up in Asia?

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March 23, 2021

The market for insurance and particularly construction related covers is seeing a divergence as we enter 2021

Key takeaway

The hardening trend has continued but we are starting to see the premium increase plateau, with markets shifting more towards portfolio management and restricting policy coverage.

Construction insurance market update

Perspectives on the construction insurance marketplace and an update on the hard market conditions

Rate movement

+10% to +15%

Construction/Erection “All Risks”

+5% to +15%

Delay in start up

+5% to +15%

Third party liability

+5% to +15%

Construction plant & equipment

+10% to +15%

Professional indemnity

Regional insights

2020 was a mixed market environment – the hardening trend we saw in the first half, sustained into the second half, with poorer underwriting results continuing from previous years, leading to tighter coverage and higher premium offerings.
However, we are starting to see the premium increase plateau, with markets shifting more towards portfolio management and restricting policy coverage.

Download the report to find out more
Title File Type File Size
Global Construction Rate Trend Report PDF 6.9 MB
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