Construction and strata insurance challenges

Source: IB Talk hosted by: Daniel Wood, Editor, Insurance Business Australia. Published June 16, 2023

Australia’s construction sector faces insolvencies and rising costs with a very tight insurance market. However, Hutch Underwriting has just released a new offering for builders. CEO Robin Johnson told IB Talk that this coverage includes some cyber protections, which he says is an industry first. He also said automating strata and construction insurance processes provides a better broker experience and argued against a government-backed public liability scheme.