Crafting bespoke and economically sound insurance programmes tailored specifically to address and navigate the risks inherent in the construction domain.
Our comprehensive approach extends to all facets of the construction profession. Whether you’re an architect shaping innovative designs, a civil engineer overseeing complex projects, an electrical contractor powering vital systems, a glazer enhancing architectural aesthetics, a home builder creating dream residences, a piling contractor fortifying foundations, or a consultant offering invaluable insights—Champion Professional Risks is equipped to cater to your unique needs.
Additionally, we extend our coverage to plumbing, heating, and HVAC contractors and consultants, recognising the diverse and interconnected nature of the construction industry. Our tailored insurance solutions are designed to provide a safety net that not only safeguards your professional interests but also fosters a secure and resilient construction environment.
The market for construction professional indemnity is going through a period of “hardening” with shrinking capacity, resulting in insurers reducing limits of cover, increasing excesses and increasing premiums.
Never before has the need for a specialist Professional Indemnity been greater, to guide construction clients in their procurement of suitable professional indemnity insurance protection.
Champion Professional Risks has access to a wide panel of specialist construction Professional Indemnity insurers, schemes and “MGAs” so that our clients can benefit from comprehensive cover without it being cost prohibitive.
Directors and “officers” of companies can be held personally liable for decisions they make and this liability is unlimited.
Claims can be brought for breach of duty, neglect, errors or omissions and mis-statements. Even unfounded allegations need to be defended and can prove costly.
It is therefore crucial that construction firms carry comprehensive Directors and Officers (D&O) Insurance (sometimes also referred to as Management Liability) to provide protection against these risks and safeguard an individual’s assets.
Champion Professional Risks have extensive experience in arranging D&O cover for construction firms and have direct access to specialist underwriters which means that we can arrange competitive cover which provides total peace of mind for the individuals that sit behind your business.
Companies operating in the construction sector are an attractive target for fraudsters as these companies will regularly transfer significant sums of money which criminals are keen to divert to their own coffers.
Whether frauds are “internal” (e.g. an employee embezzling company funds) or “external” (e.g.fraudsters targeting your firm with false invoices), these risks are insurable, providing that you can demonstrate that your firm has the prerequisite controls in place to minimise risk.
Champion Professional Risks have many years experience in arranging Commercial Crime insurance for companies operating in the construction sector to protect hard earned vital funds from getting into the wrong hands.
Crime insurance can be arranged alongside, or within a Cyber Insurance policy but it requires an expert broker to dovetail these insurances together to provide total protection from criminal activity.
Construction firms of all shapes and sizes rely on IT and automated systems to operate effectively.
This dependency on technology creates new risks and makes construction sector firms an attractive target for cyber criminals who will seek to extort, threaten and ultimately profit from vulnerabilities within your IT infrastructure.
There are also less malign risks to consider such the exposure created by GDPR (General Data Protection Regulation) which brings with it onerous obligations in respect of the handling of client data and hefty penalties for non-compliance.
Champion Professional Risks have extensive experience in arranging Cyber Insurance for firms in the construction sector to protect against a wide range of cyber threats and can include the following covers:
- Emergency Response
- Cyber Extortion
- Cyber Liability
- Business Interruption
- Data Breach Notification Costs
- Restoration of Systems
- Public Relations
- IT Forensics
- Credit Monitoring
- Telephone Hacking
- Computer Crime
What does block of flats insurance typically cover?
Coverage usually includes protection for the building structure, common areas, liability for property owners, and potential loss of rental income. Additional options may include coverage for contents in communal areas and legal expenses.
Why do I need block of flats insurance if I already have individual flat insurance?
While individual flat insurance covers the specific unit, block of flats insurance provides comprehensive coverage for the entire building, including shared spaces and common areas, ensuring protection for the collective interests of all property owners.
What is liability insurance in the context of block of flats insurance?
Liability insurance covers legal expenses and compensation costs if a third party, such as a visitor or contractor, suffers injury or property damage while on the premises. This coverage is crucial for property owners to protect against potential lawsuits.
Can I customise my block of flats insurance policy?
Yes, we offer flexibility in tailoring policies to specific needs. You can often add or remove coverage options based on the unique requirements of your property.
To speak to a member of our team please call 03330 430 430 between the hours of 9am & 5pm, Monday to Friday.
Or, if you prefer please complete your details here and we’ll get back to you as soon as we can.
