News

UK Construction Growth To Continue In 2014

Posted

British TV, radio and newspapers at the moment are full of news about the UK’s economy showing positive signs of recovery; in particular the Construction sector appears to be performing well with work on commercial projects reportedly rising at its steepest rate since 2007.

With this positive outlook in Construction predicted to continue; we talked to Dean Surridge, Head of Construction, at Incorporated Insurance Group Ltd (IIGL) to see how this might impact insurance brokers. ‘We have definitely seen an increase in activity in this sector with brokers reporting increased turnover for their clients, particularly in the ground works and underpinning sector which usually marks the start of a construction boom. We believe that this sector is set for dramatic growth and we are delighted that we have already created products that can take advantage of this growing market’

IIGL have created a number of Construction products from ‘A’ Rated Insurers specifically designed for your clients. Premiums start as low as £500 and additional discounts apply to risks with a turnover in excess of £1m.

KEY BENEFITS INCLUDE:

  • Regional exclusivity for supporting IIGL broker partners
  • High commission levels
  • Competitive rates
  • Up to £20m Employers Liability Cover
  • Up to £20 million Public/Products Liability Cover
  • Schemes backed by ‘A’  rated security
  • Defective workmanship/financial loss extensions available
  • Pollution clean-up costs extensions available
  • No height limit
  • Contractors All Risks Cover available as a package or in isolation

Our products have additional discounts for the following features

  • Turnover over £1m
  • No Claims Bonus
  • Member of a trade association
  • Health & Safety conscious
  • Well managed risks

At IIGL, we want to attract risks that work hard to ensure that their people are well trained and well equipped. With this in mind all policies will get access to our FREE HEALTH & SAFETY website. The product, if bought separately, would cost £250 but we have incorporated this within our new wording to help our policyholder stay ahead of the H&SE guidelines and include a specialist area for Scaffolders within the site. The our online facility allows policyholders to:-

  • Create Health & Safety Policies
  • Create Risk Assessments
  • Undertake Drivers Assessments
  • Create Disaster Recovery Plans
  • Use ‘cloud storage’ to ensure anytime access to vital documents

Mike Smith, CEO of IIGL summed up the situation ‘It’s a great time for brokers to re-evaluate this sector and create a marketing campaign to ensure they can take advantage of this recovering market. With a number of years’ experience in marketing to this sector, we are happy to talk to our brokers about how we can help them increase their local share of this growing market’.

So, if you have any Construction risks and would like to work with IIGL, then contact them at enquiries@iigl.co.uk or speak to one of our team on 0845 519 9050