An FYI — Contractors & Captives & a Topsy Turvey Market
Increasing commercial rates combined with shrinking capacity are driving some construction companies toward using captive insurers and other alternatives. Or so says NFP’s Adrian Pellen.
“We’re seeing extraordinary activity in the captives sector for the construction market,” Pellen said. And that’s from both owners and contractors.
Liberty Mutual’s Adam Pancoast is a senior underwriter for the company. He agrees and says we’re going to see more of this in the future.
“The continued hardening of the construction insurance market is leading to renewed interest in wraps, captives and larger deductible plans as ways to better structure risk programs,” Pancoast said.
Source link: Business Insurance — https://bit.ly/3NPLyYU