Property & Casualty Questions & Answers


With extensive knowledge of the global insurance and reinsurance markets, JLT Specialty’s dedicated Property and Casualty teams work with their clients to deliver optimum outcomes.

The team answer a series of frequently asked questions. Contact us if you would like to discuss any of these questions and answers in more detail.


Your company can purchase an owner controlled insurance programme that covers the whole project from ‘breaking ground’ to testing and commissioning. Your business can control the cost, the cover, and the claims to guarantee your business has the optimum level of protection for your investment.

Providing the UK Master policy limit is sufficient the increased excess limit i.e. CAD 3m can be evidenced from the UK or alternatively your broker can ask the local fronted insurers to increase the local policy limit to CAD 5m.

Your insurance broker should be able to leverage the overall insurance programme and negotiate with insurers for full coverage, subject to a detailed study into the group’s BI values to ensure these are all declared on the correct basis, and the correct premium is paid from the commencement of the year.

Transitioning from a construction insurance policy to an operational policy can be complex but your insurance broker should be able to support you, and help get everything in place well in advance of the due handover date to ensure a seamless transition. Underwriters on an operational policy may not consider a project ‘handed over’ until signed Substantial Completion Certificates (SCC) or similar documents are provided, or if certain machinery has run continuously for a set period (usually 72-100hrs) at full load. Clear agreement between the insured, the broker, and the construction and operational lead insurers is essential if an orderly handover is to be established.

Tell your insurance broker immediately. Most Property Damage and Business Interruption policies include coverage for financial losses, suffered by your company, as a result of a supplier not being able to fulfil their obligations to you as a result of an insured loss at their premises.

You can carry out a risk financing assessment of your risk appetite and impact of potential losses. Your insurance broker should be able to assist on this project, if required.

Discuss this with your insurance broker. They should be able to support you through insurance solutions such as due diligence, mergers & acquisitions and integration planning.

our insurance broker will be able to carry out claims scenario testing to test how your existing policy responds in different circumstances.

Contact your insurance broker with knowledge of the situation as there are a number of areas where this is covered such as product recall.

Supply chain analysis, scenario testing, business continuing planning and suppliers’ extension to business interruption insurance are way of assessing and mitigating your exposure to key suppliers.

Your insurer will need to clearly demonstrate what has changed and why it is impacting their ability to maintain the LTA. Your broker can then investigate alternative reinsurance solutions in order to allow continuity. LTA’s should be carefully crafted at the outset to minimise these risks.




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