Canada’s construction industry is currently in an unenviable spot. Between recovering from the economic impacts of COVID-19 and managing the spike in inflation rates, the industry also must contend with the growing risks brought about by climate change. And these risks are very real – both wildfire and flooding events have become increasingly severe over the years. There is also the challenges with global supply chains, as construction companies continue to face material shortages and delays.
Critical moments like this call for critical allies, and that is what CHES Special Risks hopes to be for its construction clients. The managing general agent is one of Insurance Business Canada’s 5-Star Construction 2022 winners, for the builder’s risk/course of construction, commercial and contractor general liability, general contractors, and specialty trade contractors categories.
Read more: 5-Star Construction 2022
No construction project is too big or small for CHES to lend its construction expertise.
“Construction projects vary from big to small, an extension to an existing home to a multi-millionaire dollar course of construction,” said CHES Special Risk senior underwriter Joyce Rajadurai. “We at CHES Special Risk like to consider us a one-stop shop for both.”
More than helping construction clients with their insurance needs, CHES also goes above and beyond by being active risk prevention advocates. The MGA in May became a gold sponsor of StolenEquipment.ca, a national database for preventing the theft of mobile equipment in Canada.
“Construction businesses can use this platform to reduce the likelihood of their construction equipment being stolen while also increasing item recovery,” explained CHES Special Risk CEO Gary Hirst. “In the insurance industry, it means – lowering the risk of theft, lowering loss ratios, and lowering premium rates.”
“As a 5 Star Construction Insurance provider and expert in underwriting construction, CHES Special Risk aims to provide solutions to insurance offerings, especially in a time where added effort goes a long way,” commented Rajadurai.
Read more: 5-Star Construction 2022
