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XIn construction, managing risk effectively can mean higher profits, lower operating costs, and capital that works harder – and smarter. As part of your advisory team, Marsh will show you how.
RESEARCH AND BRIEFINGS
Global commercial insurance pricing up 18% in first quarter of 2021.
Research and Briefings
COVID-19 has exacerbated ongoing geopolitical and societal challenges, and the existential crisis of climate change looms large. More innovative and collaborative approaches to resilience are needed more than ever.
While the construction industry has rebounded from the financial crisis, margins have generally remained tight. As a result, some firms are seeking new sources of revenue and profitability. Meanwhile, a shortage of skilled labor and risk of subcontractor default are concerns, adding more uncertainty to the mix.
Whether you’re a contractor, trade, builder or developer, or an architect, designer, engineer or consultant, Marsh can helps you assess risks and opportunities to find ways to working capital more efficiently. We measure your firm’s appetite for risk, recommend solutions that meet your needs, and take your program to market knowing the best markets for the best structure and pricing.
Our brokers combine deep construction and design industry expertise with our industry-leading analytics and predictive modeling engines to determine which risks to retain or transfer to make optimal risk-finance decisions, and then implement cost-effective solutions.
We take a fresh look at your risks, help you see around corners, consider all options, and work with you to make informed decisions on how best to protect and deploy capital and resources. We always look to the bottom-line outcome for a better risk. Our objective is to lower costs, which translates into enhanced margins and a stronger balance sheet.
Large general contracting firms are especially vulnerable to multiple risk challenges, including subcontractor default and claims management, job-site safety, surety credit and contingent capital, and in-house design liability.
Serving nearly 300 large general contractors worldwide, Marsh can help you manage those risks by providing the following services:
Marsh’s Global Construction and Design Practice is made up of engineering, architecture, and design specialists who can offer our full breadth of services coupled with our dedicated resources. Design firms ranging from small niche firms to global firms that serve many market segments rely on Marsh for solutions to their unique, complex, and evolving needs.
Every day, these firms face numerous risk issues, among them: subcontractor default and claims, and potential liabilities related to in-house design services.
Marsh helps clients identify and manage the full spectrum of construction risk. We focus on helping you reduce overall project risk rather than simply transferring the responsibility or consequences of risk.
Whether your emphasis is collaboration and risk sharing among all project participants or defining and enforcing individual accountability, we offer solutions for both insurable and uninsurable risk. Our customized solutions are designed with your project’s specific needs in mind and include risk evaluation, loss prevention, loss mitigation, insurance, and other services.
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