Construction Insurance, Benefits and Risk Advisory

Construction organizations require insurance that reflects their operations, project requirements and contractual responsibilities.

HUB considers the work being performed, project type, contract structure, operating footprint and loss profile when helping clients evaluate their commercial insurance needs. Depending on the circumstances, that can include a combination of annual practice policies, project-specific structures such as builder’s risk and owner-controlled or contractor-controlled insurance programs or Master Builders Risk (MBR) and rolling wrap-ups.

Construction risk extends beyond the insurance policy into contracts, jobsite practices, subcontractor relationships, vehicles and equipment, loss history and claims.

HUB’s capabilities include contractual risk transfer review, contractor and subcontractor prequalification, workplace safety and loss-control support, fleet risk management, claims analytics and claims advocacy.

For U.S. construction clients, workers’ compensation performance can affect insurance costs and overall program performance. For subcontractors in particular, EMR may also influence prequalification. HUB helps clients understand loss drivers and evaluate safety, return-to-work and claims management strategies as part of the broader total cost of risk. 

Bonding requirements and capacity can affect which projects a contractor is able to pursue and the obligations it must satisfy after award.

HUB’s surety specialists work with contractors to assess bonding requirements and capacity for the work they are pursuing, including bid, performance, payment and other miscellaneous bonds where applicable. Surety is structured separately from insurance while remaining an important part of the broader construction risk picture. 

Competition for skilled tradespeople and experienced construction professionals can make employee benefits an important part of workforce strategy.

HUB helps construction employers develop benefits strategies that support recruitment and retention while responding to workforce needs and cost pressures. Health, disability, voluntary benefits and other employee programs can be considered as part of the broader employee value proposition.

Construction organizations need people strategies that can keep pace with project growth, workforce change and competition for skilled talent.

HUB helps organizations strengthen areas such as compensation and total rewards, workforce planning, HR infrastructure and HR technology, providing strategic and operational support around the people side of the business. 

Retirement benefits can strengthen the overall rewards strategy for construction organizations competing for skilled trades, technical talent and experienced leadership.

HUB helps construction employers develop and manage retirement strategies aligned with the needs of the workforce and the business.For some non-union U.S. contractors performing public work, benefit and retirement plan design can also intersect with federal or state prevailing wage requirements.