Construction
Aon Benfield

Every construction project faces a myriad of risks. Whether the assets are high-rise buildings, tunnels, bridges, mines, dams, power stations, petro-chemical plants or refineries, they all come with their own unique set of exposures. Facultative reinsurance construction cover leaves you safe in the knowledge that your project, and subsequently your financial requirements and risk appetite, are adequately protected. Clients are protected against losses due to fire, flood, vandalism, wind, earthquake, faulty design and similar events.

Placements and cover can extend from just one building to an entire group of structures. It can also safeguard supplies and materials. In the unfortunate event that your project suffers a setback, a Construction policy helps you get back on track with minimal disruption.

However, it is important to select an intermediary with the specialist skills, knowledge and experience to understand and evaluate all your projects risks and advise you accordingly on the level of cover required. In this respect, Aon Benfield Fac delivers we deliver peace of mind, so that you can deliver to your clients.

Aon Benfield Fac – experts in the field

Aon Benfield Fac provides workable solutions and a range of options to address coverage issues in all construction classes. Our Construction specialists ensure that your project is supported by the highest quality capital, sourced from the leading global markets. The team has vast reinsurance expertise, which has been accumulated through placing fac programs for a diverse scope of projects throughout the world.

Placements are always tailored to your specific capacity requirements: whether it is a traditional quota share program, a non-proportional layer, reinsurance of a captive or an innovative customized facility that insures a multitude of projects over a multi-year period, Aon Benfield Fac has the resources to deliver. We are able to undertake placements of any scale: from multi-billion dollar multi-year programs, to niche, short-term projects. In all cases, we are able to execute the best terms and conditions for our clients:

• We source de minimus A- security
• We recommend utilizing our specialism by allowing us to customize wordings to your project, rather than “off-the-shelf” generic offerings
• We offer a maximum response time of just 48 hours
• We have access to designated market capacity on pre-agreed (90%) slips and wordings

Our capabilities

• OCIP / CCIP wrap Programs
• CAR / EAR / TPL / DSU / Initial Operations and BI can be negotiated for Power
• QS, primary, buffer & excess of loss
• Experience handling lender provisions
• Specific Coverage Issues including areas such as design, maintenance and delay in start-up
• Non-cancellable policies
• Term premiums including pre-agreed extensions