Marsh has launched two insurance facilities aimed at UK construction contractors, covering road projects and plant and equipment.
Road project cover
The Strada facility provides project-specific insurance for road contractors, combining construction all risks (CAR) and third-party liability (TPL) cover.
Marsh says the facility includes clauses developed for road and highway risks, addressing issues including policy extensions, periods when works are open to traffic and phased completions. It is underwritten by a panel of global (re)insurers, with confirmed limits of up to £1bn for CAR and £1m for TPL risks.
Strada also includes two months of free extension cover. Marsh said extension premiums have traditionally been disproportionately high compared with the original insurance outlay across the wider market.
Plant and equipment facility
The Machina facility covers contractors’ plant and equipment and is intended for both standalone placements and annual construction programmes.
It offers a single, pre-agreed rating matrix for contractors seeking a consistent pricing approach as projects progress. Machina is underwritten by a market-leading insurer, with capacity tailored to the scale and scope of individual placements.
Guy Fitzgibbon, head of global contractors at Marsh Risk, said: “The UK construction industry is set to grow by 3.2% annually between 2027 and 2030, driven by rising investment in data centres, transport infrastructure, and housing.
“Road and highway projects sit at the heart of this ambition, but they remain one of the most complex risks to insure: work periods are frequently extended, with structures and roads often open to traffic before the project is formally handed over. This results in prolonged exposures for construction contractors ahead of completion.”
He added: “Marsh’s new facilities give UK construction contractors greater pricing certainty, faster placement, and more consistent claims handling in two areas of construction risk that have historically been difficult to insure efficiently, at a time when project complexity is rapidly increasing.”