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insurance@arcuri.com.au

1300 272 874

insurance@arcuri.com.au

1300 272 874

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  • Home
  • About us
    • The Arcuri Team
    • Financial Services Guide
    • Privacy Policy
    • Steadfast
  • Services
    • Business Insurance
    • Construction Insurance
    • Cyber Protection
    • Home & Contents Insurance
    • Public & Product Liability
    • Management Liability
    • Professional Indemnity
    • Taxi insurance
  • Resources
    • Brochures & Fact Sheets
    • Business Quote
    • Insurance Calculators
  • News
  • Contact

Construction Insurance

What are the key risks in the building and construction industry?

Construction projects involve multiple stakeholders and are often undertaken on challenging sites. Construction businesses must often manage changes to scope or orders, poorly written contracts and specifications and complex project management issues. They may need to deal with labour and materials shortages, or theft of tools and materials.

Subcontractors and suppliers can provide extra stress for construction firms, as can the rising number of extreme weather events. What’s more, cybercrime is an emerging threat to construction businesses, which often use insecure connections from mobile workplaces, and share files and data with stakeholders outside the business

Who should consider it?

Whether you’re an owner builder, a contractor or a large construction company, you’ll need a range of insurance covers to safeguard your workers, building and equipment.

"The construction industry generates over $350 billion in revenue, producing around 8% of Australia’s Gross Domestic Product, and has a projected annual growth rate of 2.5% in the next five years."

Australian Industry and Skills Committee, Construction, 2020

Did you know?

41%
Forty-one percent of construction companies have purchased cyber insurance, while 28% plan to do so in the next 12 months (AON, Global Risk Management Survey 2019)

(Construction Industry Insights, 2019)

The top three forecast risks for the industry are economic slowdown, cash flow and liquidity risk, and capital availability (AON, Global Risk Management Survey 2019).

(Construction Industry Insights, 2019)

The top three considerations for construction companies when choosing an insurer are coverage terms and conditions, industry experience and claims service and settlement (AON, Global Risk Management Survey 2019)

(Construction Industry Insights, 2019)

Construction Insurance Review

Our dedicated team allows us to work closely with clients and offer tailored insurance solutions.

Get in touch with us!

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38 Smith St, Collingwood VIC 3066
Postal Address: PO Box 2850,
Fitzroy 3065
Phone: (03) 8415 4000
Fax: (03) 9415 8280
E-mail: insurance@arcuri.com.au

Arcuri & Associates Pty Ltd

Arcuri & Associates Pty Ltd is a member of the largest Insurance broker network in Australasia, the Steadfast Group.

ABN 22 006 299 298
AFSL 235409

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