Lockton Announces New Global Leadership Structure to Support Rapid Global Growth

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High inflation has contributed to soaring reconstruction costs in real estate. This inflation is intertwined with high demand, supply chain issues, labour shortages, and expensive energy. Indexation can help keeping sums insured aligned with actual replacement costs, preventing insurance payouts from failing to cover the full costs of a loss event.

How indexation helps to prevent underinsurance in real estate

High inflation has contributed to soaring reconstruction costs in real estate. This inflation is intertwined with high demand, supply chain issues, labour shortages, and expensive energy. Indexation can help keeping sums insured aligned with actual replacement ...

Recent events create volatility for terrorism insurance

The global terrorism and political violence market has experienced increased volatility in recent years. Civil unrest in Chile, Hong Kong and South Africa generated significant losses. This was further compounded by the Russian invasion of Ukraine. In response, the market hardened quickly: insurers pushed for higher rates to offset losses, imposed more restrictive terms and adjusted their risk selection approach. Sublimits that had been available for extensions like “contingent business interruption”, “unnamed suppliers”, “service interruption” and “miscellaneous unnamed locations” were commonly excluded, as renewal negotiations became more protracted.

The global terrorism and political violence market has experienced increased volatility in recent years. Civil unrest in Chile, Hong Kong and South Africa generated significant losses. This was further compounded by the Russian invasion of Ukraine. In response, the market hardened quickly: insurers pushed for higher rates to offset losses, imposed more restrictive terms and adjusted their risk selection approach. Sublimits that had been available for extensions like “contingent business interruption”, “unnamed suppliers”, “service interruption” and “miscellaneous unnamed locations” were commonly excluded, as renewal negotiations became more protracted.

Economic uncertainty increases cash flow risk for suppliers

A slowing economy, changing consumer patterns, increasing debt servicing costs, and tight margins are impacting the financial health of all businesses regardless of size. If their payment discipline declines, this can have devastating consequences for suppliers.

A slowing economy, changing consumer patterns, increasing debt servicing costs, and tight margins are impacting the financial health of all businesses regardless of size. If their payment discipline declines, this can have devastating consequences for suppliers.

Protecting construction projects against contractor failure

The failure of a contractor or key subcontractor during the construction period can have severe consequences for the developer or main contractor, potentially causing delays and reputational harm or leading to damage to incomplete works and materials. Amid challenging economic climate extra steps need to be taken to prepare for such a scenario. This briefing note reviews the key issues from the developer’s perspective. However, where there is an insolvency case in the supply chain many of the issues and remedies discussed herein apply equally from a main contractor’s perspective.

The failure of a contractor or key subcontractor during the construction period can have severe consequences for the developer or main contractor, potentially causing delays and reputational harm or leading to damage to incomplete works and materials. Amid challenging economic climate extra steps need to be taken to prepare for such a scenario. This briefing note reviews the key issues from the developer’s perspective. However, where there is an insolvency case in the supply chain many of the issues and remedies discussed herein apply equally from a main contractor’s perspective.

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