XL Catlin’s insurance operations in France today announced the launch of a new solution to address the insurance needs of construction engineering firms through a single product.
This solution covers material damage due to inherent defects for 10 years after the completion of a construction project, in accordance with French law, but also includes the traditional liability coverages that an engineering firm needs to operate, such as general casualty and professional indemnity.
Olivier Antiphon, Underwriting Manager, Construction – France, explained: “Construction insurance is very complex, especially for engineering firms. That is why we designed an all-in-one straightforward solution that provides comprehensive coverage, by combining our liability and construction underwriting expertise.”
He added: “According to the French Building Federation, the industry has been experiencing growth for the last two years and is expected to keep growing, after an 8-year slump. We want to support growth in the construction sector, and believe we can bring significant value and expert knowledge.”
Commenting, Francois-Xavier d’Huart, Head of Client & Broker Management in France, said: “XL Catlin is a major provider of casualty insurance in France and we are keen to leverage that expertise to develop new solutions for the sectors we support, such as the construction industry.”
Commenting on the distribution strategy for this coverage, he further explained: “The solution is available through structured portfolio solutions with some of our brokers. This type of strategy allows us to reach companies that we weren’t previously able to get in front of. We have strengthened our client and distribution team last year to be in a position, today, to implement that part of our strategy.”
XL Catlin offers solutions to international companies that manage construction projects across the world, through global programmes, as well as French-specific coverages for construction professionals in France.