Contractors All Risks

Contractors All Risks

Protecting construction projects at every stage

APPETITE LIST:
  • Covered

    Home Builders

  • Covered

    Apartment Builders

  • Covered

    Commercial Builders

  • Covered

    Office fit-out Contractors

  • Covered

    Industrial Builders

  • Covered

    Institutional Contractors

  • Covered

    Civil Contractors

  • Covered

    Subcontractors

  • Covered

    Principally Controlled Projects

  • Covered

    Annual Renewable Policies

  • Covered

    Single Projects

The tailored Scope policy wording provides comprehensive coverage for a broad range of projects. Coverage can be dialled up or down with our suite of optional extensions.

COVERAGE INCLUDES:
  • Contract Works for Construction Projects:
    Comprehensive cover for construction projects based on DE4 as standard, protecting against damage and loss during building, renovation, or repair phases.

  • Australia Wide Plant & Equipment:
    If declared, coverage extends to contractors’ plant, equipment and tools across Australia, ensuring peace of mind for operations no matter the location.

  • Annual & Single Project policies available:
    Choose between annual policies for ongoing projects or single project policies tailored to individual contracts.

  • Lead and follow capacity:
    The ability to offer both lead and follow lines on annual and single project placements.

  • Optional Extensions

    Policies can be dialled up or down with the use of our Optional Extension wordings. Discuss your client's needs with one of our underwriting specialists to build a policy as unique as each project.

    Defects Liability
    Period (Guarantee)

    Includes a broader definition of parties insured by the policy.

    Display Homes
    & Contents

    Extends Property Insured to include Display Homes and their associated Contents.

    Inflation
    Protection

    Covers inflation-driven cost increases due to delays from insured damage, excluding costs from other delays, redesigns, or penalties.

    Plant Hire
    Charges

    Covers the additional costs to hire a replacement item of owned Plant or Equipment, or the ongoing hire charges to the owner of damaged Plant or Equipment.

    Plot Ratio
    Indemnity

    Compensation for the financial loss arising from the inability to rebuild to the same size or density due to the exercise of any government or statutory authority.

    Reasonable
    Care

    Removes the condition that the Insured must take Reasonable Care to avoid loss or Damage.

    Run-Off
    Contracts

    Adds the ability to continue cover for any unfinished projects at the expiry of the Period of Insurance.

    Speculative
 Homes

    Protects contractor owned properties after project completion while they are on the market for sale.
    BENEFITS INCLUE:
  • Coverage through financially reputable insurers:
    Partnering with financially stable insurers ensures compliance with contracts and provides robust security for both insured parties and their clients.

  • Broad policy coverage with Australian Standards in mind:
    Our policies provide extensive coverage designed to align with Australian Standard Contracts, helping clients confidently manage their construction projects while accommodating specific requirements.

  • Flexible underwriting approach:
    Our flexible underwriting process simplifies administration, enabling clients to focus on construction without concerns about coverage gaps or complex paperwork.

  • Broker Benefits

    Extensive underwriting experience

    Benefit from a combined 35+ years of underwriting experience, providing a deep understanding of industry and construction related risk.

    Tailored underwriting approach

    We specialise in crafting bespoke solutions, tackling even the most complex risks with a dedicated approach to finding the right coverage.

    Exceptional service standards

    Experience superior service and peace of mind with our commitment to high standards and prompt, reliable support for all your brokerage needs.

    Our Advisory Framework

    Creating and maintaining the correct insurance solution for your clients requires a structured approach. Our scoping framework ensures that you benefit from the depth of our experience, and can deliver comprehensive insurance solutions regardless of project complexity.

    Collate

    We help brokers to understand what information will be required to develop a comprehensive evaluation of each specific risk.

    Understand

    We analyse the risk information stack to fully understand the Insured, their contractual obligations and potential liabilities.

    Tailor

    We utilise the flexibility of our exclusive wording to draft a tailored insurance solution that effectively addresses both the identified risks and contractual requirements.

    Maintain

    With an always-on approach to our broker relationships, we maintain open channels of communication to confirm the level of cover remains adequate and appropriate for the duration of each project.

    "What's of note is that our products can be tailored and be dialled up or down depending on the needs of the Insured"

    Nick Vernon - Co-CEO, Scope Underwriting

    Backed by World Leading Security


    Lloyd’s is the world’s specialist insurance and reinsurance market. Operating in more than 200 countries and territories worldwide, the Lloyd’s market has an unrivaled concentration of specialist underwriting expertise. For more than 150 years, Lloyd’s has provided tailored insurance and reinsurance solutions for a variety of Australian risks. Lloyd’s is licensed to write general insurance and reinsurance business under the Australian Insurance Act 1973. In 2018, Lloyd’s underwriters wrote A$2.8 billion of business in Australia, making Lloyd’s the fifth largest general insurer in the Australian market.

    Our Specialists


    Nicholas Vernon

    Co Chief Executive Officer

    Robert Higginson

    Co Chief Executive Officer
    "In construction, every project carries unique risks. Our tailored insurance solutions ensure you’re covered from blueprint to build, keeping your projects secure at every turn."
    Rob Higginson - Co-Chief Executive Officer - Scope Underwriting





    “Let us create a tailored solution to your clients construction insurance needs”