QBE Construction Update Spring 2022
By QBE Senior Underwriter (Trade Credit) Dave Murray
Sector overview
2021/2022 construction activity continues to power ahead despite the stormy clouds that gather over the supply chain. Cost inflation looks set to stay as construction companies continue to grapple with the unique challenges that the UK construction market presents. New work is there to be won, but at what cost is the question that many construction businesses face an uncertain answer to. It is also important to note that UK construction insolvencies are increasing following the retraction of Government backed Covid-19 initiatives.
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About QBE
QBE European Operations is part of QBE Insurance Group, one of the world’s leading international insurers and reinsurers and Standard & Poor’s A+ rated. Listed on the Australian Securities Exchange, QBE’s gross written premium for the year ended 31 December 2018 was US$13.7 billion.
As a business insurance specialist, QBE European Operations offers a range of insurance products from the standard suite of property, casualty and motor to the specialist financial lines, marine and energy. All are tailored to the individual needs of our small, medium and large client base.
We understand the crucial role that effective risk management plays in all organisations and work hard to understand our clients’ businesses so that we offer insurance solutions that meet their needs – from complex programmes to simpler e-trading solutions – and support them in minimising their risk exposures. Our expert risk management and rehabilitation practitioners focus on helping clients improve their risk management so that they may benefit from a reduction in claims frequency and costs.