Folgate lends a helping hand to brokers and their Contractors & Construction risks.

We are already into February and are seeing signs of the market changing with General Contractors & Construction Risks. Many MGA’s have had their capacity withdrawn or restricted as the market hardens, along with Lloyd’s syndicates moving into run-off following a prolonged soft market.

Our Underwriting stance on Contractors has not changed and our product grew significantly in January due to some markets withdrawing capacity and appetite changes, including large rate increases.

Underwriting Guidelines – Primary Business

Air Conditioning / Refrigeration Non-Licensed Asbestos Removal (not in isolation) Asbestos Contractors
Bricklaying Structural Glazing Contractors Basement Excavations
Builders Depth limits in excess of 3meters BFSC payments over 75%
Carpentry Haulage Cavity Wall Insulation
CCTV / Alarm Installation Roofing which forms part of an overall contract Demolition Contractors
Ceiling and Partition Work undertaken in the EU Heavy Civil Engineering
Computer / NetworkEngineers Traffic Management Northern Ireland Risks
Electrical Contractors Tree Surgeons Labour Supply
Fencing Pilling / Underpinning(not in isolation) Plumbing Contractors
Flooring Rail Contractors
Glazing / Curtain Walling Roofing Contractors
Ground Workers / Utilities Steeplejacks
Joinery Security / Doormen
Landscaping Scaffolders
Painting and Decorating Solar Panel Installation
Plastering / Rendering Sprinkler Installers
Steel Erecting Contractors
Tower Crane Operations
Waste & / or Recycling Risks

Underwriting Guidelines – Excess of Loss

Low Medium & High Risk Liability Hot Roofing Contractors
Waste & / or Recycling Risks

Commissions Available, Extensions & Benefits

• Contractors commissions – up to 25%
• All other primary and excess commissions – up to 35%
• Low claims rebates
• Long term agreements
• Efficacy cover
• Financial loss
• Non-adjustable policies

Limits Available

Employers Liability £10,000,000 £35,000,000
Public and Products Liability £10,000,000 £35,000,000
Contract Works £5,000,0000
Own Plant £500,000
Hired in plant £500,000
Professional Indemnity £10,000,000

Dan Watson, Head of Liability at Folgate commented:
“Despite Lockdown 3, our Liability team have been busier than ever trying to ensure we look after all the new enquiries coming in as well as our renewal book. Our liability team thrive on being busy and we are seeing a lot more risks to quote due within 2-3 working days because of the current market conditions. I am pleased to say that we are helping our supporting brokers in a changing market and will continue to do so during 2021”.

For enquiries, contact our Business Development Managers:
Derek Russell / 020 7256 3429 / Northern England & Scotland
Paul Craig / 020 7256 3418 / SE England & East Midlands
Tom Williams / 020 7256 3434 / SW England, Wales & West Midlands

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