Folgate Underwriting Agency has launched Contractors Combined, an insurance product designed for brokers managing construction sector risks.
The policy is individually underwritten and aims to address complex placements by offering a streamlined approach to construction insurance.
Brokers can provide clients with coverage across up to nine sections, including employers’ liability, public and products liability, contractors all risks, personal accident, property, professional indemnity, directors and officers liability, and legal expenses, which includes contract disputes cover.
The product features a non-declaration basis of cover and offers public liability extensions for financial loss, defective workmanship, and breach of professional duty. Additional options include inefficacy cover, protection for damage to property being worked upon, and environmental statutory clean-up costs. Clients may also benefit from low claims rebate options.
Policy wordings include further protections such as new-for-old cover on owned plant items under 24 months old and 365-day speculative build cover for private dwellings. All cover is supported by A-rated capacity.
The launch comes at a time when broker expectations in the construction insurance sector are evolving. Recent industry surveys show that brokers are increasingly prioritising comprehensive coverage and high service standards when selecting insurance partners.
Claims payment speed and underwriting expertise are also key factors, while value for money is becoming less central due to ongoing pricing pressures in the market.
Folgate noted that the product’s risk management features are also particularly relevant as the UK construction industry continues to face a persistent theft problem, with £40 million worth of tools stolen in 2024 and a tool theft reported every 21 minutes. This ongoing challenge has led insurers and brokers to place greater emphasis on security and loss prevention within their offerings.
Craig Miller (pictured above), chief underwriting officer – liability at Folgate, said: “We understand how time-consuming and complex placing construction risks can be. That’s why Contractors Combined has been built to support brokers with a more personalised, bespoke approach for every risk, making the process smoother while ensuring clients receive the tailored, reliable cover they need.”
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