Markel Insurance has introduced a construction & engineering practice within its international division.
The new practice will initially offer construction all risks (CAR) and erection all risks (EAR) products to clients worldwide, expanding Markel’s coverage across energy and construction sectors.
The CAR product is designed to provide cover for a range of projects, including retail, healthcare, data centres, housing developments, and civil engineering. The EAR product targets clients in the energy and industrial sectors, focusing on the construction and installation of heavy industrial plant and equipment.
Both products are available globally, with limits up to US$50 million on a probable maximum loss basis.
Anna Woolley (pictured above, left) has been named director – construction and will lead the new practice. Woolley is tasked with overseeing the construction & engineering team and developing Markel’s international portfolio. She is based in London and reports to Rohan Davies, managing director – London Market at Markel International.
Keely Madden (pictured above, middle) has joined as head of erection all risk – construction. Madden will support Woolley in developing the EAR product and will be responsible for underwriting, as well as building broker and client relationships. She will also contribute to innovation and risk management services for construction clients.
Simon Marshall (pictured above, right) joins as an engineer, assisting underwriters with risk selection and providing insights into new technologies in construction and engineering. Marshall will also conduct site visits and review risk management information to support clients with up-to-date mitigation strategies. Both Madden and Marshall will report to Woolley and be based in London.
The launch comes at a time when the London construction insurance market is experiencing a softening, with rates for construction lines continuing to decline. Competitive pressures are pushing down rates, and carriers are lowering minimum premium thresholds to secure market share.
This trend is particularly evident in the UK domestic CAR business, where insurers are adapting their underwriting approaches in response to evolving risk factors and capacity changes. The market has seen steady coverage for major projects, but the influence of natural catastrophe exposure remains significant, with single-cat-peril terms becoming more common in policy structures.
These developments reflect a broader shift in the sector, as insurers balance the need for competitive pricing with the realities of increasing risk complexity.
Labour shortages and theft of tools and machinery also remain significant challenges for UK construction sites. Since Brexit and the COVID-19 pandemic, the sector has faced difficulties in sourcing skilled tradespeople, leading to increased costs and delays.
At the same time, theft incidents have risen, with tools, plant, and machinery frequently targeted. These risks add further complexity to underwriting and claims management, as insurers must address both the direct financial losses and the broader impact on project timelines and quality.
