The Canadian construction industry has had a wild ride recently due to the COVID-19 pandemic, supply chain problems, and inflation. On a positive note, the construction insurance sector has adapted to the difficult market to support all aspects of the construction process across projects of all sizes.
Now, Insurance Business Canada (IBC) has identified this year’s 5-star construction insurers that provide the best service and cover to meet the needs of this complex sector.
The IBC team selected the best construction insurers in the country by conducting a survey with a wide range of brokerages and speaking to hundreds of brokers across the country to rate the construction insurers they had worked with over the past 12 months. The in-depth information gathered enabled the IBC research team to assign weighted values to each criterion rated by brokers. At the end of the research period, the construction insurance providers that received the highest rankings regarding work quality, specialist expertise, and client service were named this year’s winners.
Some of the winners this year are:
In an interview with IBC, Jonathan Graham, underwriting director for construction and contracting at Northbridge Insurance, highlighted that risks, exposures, and liabilities for contractors have changed over the years, and “without the appropriate precautions and coverage, one could be left unprotected if something does go wrong.”
Meanwhile, Jamie Ross Dick, director of construction at Lions Gate Underwriting (LGU), said the team’s ability to see a risk, understand it, and underwrite it well and profitably had made it stand out in the industry despite facing a myriad of challenges.
Find out more about Northbridge Insurance and Lions Gate Underwriting by clicking the links above. You may also see the rest of the winners by reading the IBC 5-Star Construction 2022 report.
