About the event

The construction industry is likely to become a global engine for economic growth and recovery from Covid-19 with the average annual global infrastructure construction forecast set to grow by 5.1% per year.

However, the industry is also heading towards a period of rapid and significant innovation and changes in the workforce. Climate change will lead to big changes in construction processes and methods, while the industry is already undergoing a technological transformation, with digitalisation and growth in modern manufacturing methods. And in the wake of Covid-19, construction firms are focusing in more on diversity, equality and inclusion initiatives as a way to access more talent and reduce skills gaps.

While the long-term picture looks promising for the construction industry the negative impact of Covid-19 and the ongoing material and labour shortages creating supply chain bottlenecks will trigger significant short and medium-term cost increases for construction firms, and there will be an increased need to transfer risk into insurance programmes.

We welcome you back to this in-person and hybrid conference on 18-19 May 2022 for two days of debate, discussion, meetings and networking.

Register your interest and save the date!

Agenda

Stimulus Package / Market outlook
Governments across the globe have announced Stimulus Packages with substantial investment in infrastructure and green energy projects, which will help to dynamise the economy impacted by Covid-19. In this session we will be presenting and analysing the main infrastructure and green energy plans in the main regions.

Stimulus Package investments: Impact on the insurance market
From an insurance market perspective how are these investments going to impact the insurance capacity and rates? Is the market ready to take all of this investment? How will this impact the already hard market? Will this boom lead to new capacity? Are carriers doing business plans or thinking strategically about these investments? What impact might Covid-19 have? What impact might Brexit have?

Global / European Engineering Lines market outlook
This session will analyse the Engineering Lines market state: capacity, terms and conditions and trend. It will explore how carriers perceive an improvement on the Construction underlying risk (complexity of projects, risk allocation, relationship between owner and contractor, entering new geographies etc) and how the various infrastructure stimulus packages will impact the market.

Managing supply chain risk in construction
With more buoyant demand for construction projects, supply chain constraints are expected to hinder growth well into 2023. Some of these constraints will be short to medium-term challenges, however as the industry is set to grow so too will supply chain issues. This session will delve into the steps to mitigate supply chain risks now but also analyse strategies to position firms to better handle future supply chain disruption events.

Managing ESG in Construction
As the world wakes up to the challenges of climate change, there is increasing demand for new but sustainable materials to be used wherever possible to reduce carbon emissions. Against this backdrop there will be significant changes for insurance buyers where ESG runs much deeper than simply their own organisation.
Having clear ESG related targets, measurable metrics and a purpose and timeline for future performance will be critical for buyers and help facilitate continued partnership with carriers.

Why are construction claims so complex? The insurer’s views
Interesting insights can be drawn from the different opinions between clients and carriers, but we all have a common objective: improve claims management in construction. The session will be followed by a panel discussion assessing how claims ratios are evolving in the hard market.

Developing a Captive/ART solutions
A hardening insurance market always forces companies to reconsider their approach to their insurance programme and to investigate the alternatives. This year is no exception and demand for information about those alternatives is as high as it has ever been. Disruptions across industries, geographies and politics have added to the pressure for construction companies to find a stable way to control and finance their risk.  This session will seek to bust some of the myths around captives and set out the arguments for and against adopting the captive model.

Construction technology
The predicted industry boom will lead to a drive in new innovations and a significant increase in technology. Increased use of technology will allow organisations to reduce some of their risks and their costs, while improving productivity. However, with a myriad of options on the market, how does a construction firm know which systems to choose, the new risks involved and the impact that decision might have on any future insurance programme. This session will explore some of the latest construction technologies, highlighting the risks and opportunities that emerge.

Cyber threats in construction
The current insurance marketplace has changed drastically in the last year, fuelled by a high frequency and severity of claims, the majority of them being ransomware. Renewals and new submissions have become increasingly difficult as insurers are increasingly scrutinising insured’s cyber security and risk management plans and are requiring significantly more information during the submission process. Our panelists will provide an update on the state of the market as well as discuss best practices to prevent attacks and respond in the event of an attack.

Construction human capital
The battle for human talent will increase in line with the construction industry boom with employees relying on their employers to support health, financial, and lifestyle needs and motivations through benefits products. This is driving employers to rethink their benefits offerings as they seek to attract and retain staff.
This session will assess how construction firms are adapting to the race for talent and how the pandemic may have shaped a major shift in employment patterns.

Mitigating construction risk with parametric triggers
Parametric insurance is an emerging method of providing coverage for costs typically associated with delays arising out of severe weather conditions or natural catastrophes. Unlike traditional construction risk insurance which relies on physical damage to a project to trigger coverage and a lengthy claims process to provide an unknown financial settlement, parametric coverage is designed around a pre-defined event for which payment is guaranteed when triggered.
This session explores the rising trend of parametric solutions and the types of risks that can be transferred.

How are major infrastructure government bodies adapting to the hard market?

Insurance hard market conditions are not only impacting the contractors but also major infrastructure governmental bodies in two ways: either directly as a buyer of the policies (Programs OCIP based) or as an Owner of the asset where they drive the contractual insurance requirements of the Projects. What are the key challenges from an Owner perspective?

Single Project Professional Indemnity (SPPI)
It has been a tumultuous last three years for the professional indemnity market, ever since Lloyd’s of London commenced a review of loss-making classes. Professional indemnity portfolios were one of worst classes, and construction risks were some of the poorest performers. The construction professional indemnity market was then hit on another two fronts: cladding/fire safety claims post the Grenfell fire, and increased frequency in the number of large claims from project policies.
There is a high likelihood that the construction professional indemnity market is forever changed, with insurers being more discerning about the type of risks they will be prepared to write, and a possible reduction in the policy coverage together with avoidance of certain procurement methods.

Workshop: Going Local: Local market perspectives. The role of local insurers and reinsurance capacity in the construction industry

Workshop: Choose Wisely: How the selection of your Joint Venture partner and delivery model impact professional liability coverage

Workshop: Claims: CAR and PI claims cases drilling down into the specifics of some of the most controversial construction wording clauses.

Workshop: ESG Greenwashing: Avoiding the pitfalls of overpromising or providing misleading information about the benefits ‘green’ products or services will provide.

Workshop: Cyber Coverage: Analysis of cyber risk in the construction industry: A review of cover offered/excluded

Confirmed speakers

James Bohan

Assistant Manager, Head of Global Fronting & Multinational, Ireland,
AIG

Andrew Bradley

Former Head of Group Risk Services,
Nestlé

Derek Bridgeman

Managing Director,
SRS Europe

Francoise Carli

President and Cofounder,
Zakubo Consulting

Malcolm Cutts-Watson

MD,
Cutts-Watson Consultancy

Claudine Delavy

Head of Distribution, EMEA,
Swiss Re Corporate Solutions

Alessandro de Felice

Chief Risk Officer,
Prysmian Group and ANRA Member

Bob Gagliardi

Head of Captive Division,
AIG

Charlotte Hooper

Business Partnerships Manager, Business Accelerator,
GEB

Brian Kirwan

Head of Structured Solutions,
McGill and Partners

Otto Kocsis

Principal Business Interruption & Resilience, Risk Engineering,
Zurich Resilience Solutions

Adrian Latimer

Consultant

Carl Leeman

Vice-President, BELRIM and Chief Risk Officer,
Katoen Natie

Ken MacDonald

Miller and London Market Group

Stephen Morton

Head of Multinational, EMEA,
AIG

Joshua Nyaberi

Head of Captive Fronting Continental Europe,
Zurich

Pieter Nyssen

Regional Captive Manager,
Zurich

Trevor Pearsons

Head of Insurance,
ACS Financial

Dan Sammons

Alternative Risk,
AIG

Bart Smets

Risk Manager,
Umicore

Reiner Siebert

Member of a Captive Board

Andrea Valacchi

Director EMEA,
GEB

Fabian Vanhecke

Regional Manager WEMEA,
GEB

Jason Van Schie

Managing Director BPsych (Hons),
MApp Psych (Occupational)

Adri van der Waart

Director Global Insurance, Arcadis and President,
NARIM

Caroline Woolley

UK Director and Practice Leader,
Meaden & Moore

Fabian Vanhecke

Regional Manager WEMEA,
GEB

Jason Van Schie

Managing Director BPsych (Hons),
MApp Psych (Occupational)

Adri van der Waart

Director Global Insurance, Arcadis and President,
NARIM

Caroline Woolley

Director and Practice Leader,
Investigative Accounting Group

Agenda

21-23 September 2021

Headline partner

Partners

Location

This event has been organised by Commercial Risk and will be taking place at the Leonardo St Paul’s, London.

Contact Us

For more information on any aspect of this event, please contact us using the details below.

Annabel White
Group Operations and Events Manager
Commercial Risk
[email protected]
Tel: +447828 574 935