075: The Minefield of Contractor Liability Insurance with Dave Cahill and Steve Cox of Miller Insurance Services’ UK Construction Practice

<p>Are you feeling overwhelmed by the immense level of practical knowledge your clients now require of you? Or do you feel confident both in your understanding of the risks facing your clients and their businesses, and in the products you have provided them with? Either way, it’s becoming increasingly apparent that clients are looking for bespoke products which fully cover them against all potential losses, particularly in niche markets such as railway-adjacent construction.</p> <p>In this week’s episode, we’re very pleased to be speaking with Dave Cahill and Steve Cox of Miller Insurance’s construction branch. In conversation with Boston Tullis’ Sarah Myerscough, they discuss the staggering minefield faced by both construction firms and their respective brokers and insurers with regard to certain projects; namely those involving construction over or nearby transport links. Despite the specific focus on contractor liability insurance, the discussion in this episode can be considered microcosmic for broader market trends which brokers and insurers alike should be taking into consideration.</p> <p> </p> <p>Quote of the Episode</p> <p>‘You really need to know your staff when you're talking about this kind of a risk.’</p> <p>When dealing with very niche, bespoke products with minimal capacity, it is essential that brokers provide insurers with all the necessary information about the particular risk facing their client. To avoid incidents such as Tesco’s extensive pay-out to Chiltern Railways after failing to secure coverage from their insurer following infrastructural damage at a supermarket construction site, clients need products that can provide watertight protection against both potential damage and non-damage. This principle needs to be undertaken across the entire insurance market. As it gradually becomes increasingly geared towards extremely niche specialisms, brokers need to be equipped with the knowledge required to perform detailed, analytical risk assessments before presenting to insurers.</p> <p> </