Construction
Build on Our Legacy and Reduce Your Exposure to Risk
For over a century, McGriff has partnered with global, national, and regional companies in all construction industry sectors. Leveraging our deep experience, our 100+ construction teammates develop highly customized strategies for thousands of our construction client to help them protect their businesses and manage their total cost of risk.
Our Expertise
We develop creative and innovative solutions for your unique challenges – with highly experienced construction risk management professionals in these areas:
- General Contractors
- Infrastructure and P3s
- Specialty Trades
- Highway/Civil Contractors
A Program Designed to Fit Your Needs
Just as design is important to a construction project, program design is vital to a successful risk management program. McGriff combines the best risk management practices with innovative and traditional risk solutions to provide the most cost-effective solutions for our clients.
Construction Risk Management
We develop creative and innovative solutions for your unique challenges - with highly experienced construction risk management professionals in these areas:
- Legal
- Claims
- Loss Control
- Actuarial Services
- Placement and Structure Recommendations
- Alternative Risk Solutions
- Total Cost of Risk
Bonding & Surety Services
As one of the largest surety practices in the U.S., McGriff has the knowledge, understanding, and experience to deliver excellent service, competitive pricing, and the most favorable terms and conditions.
- Many of our Surety specialists are former underwriters with expertise in placing programs for a number of industries.
- Subcontractor Default Insurance (SDI): Since its inception in the late 1990s, McGriff has been heavily involved in the development, placement, and evolution of innovative SDI programs, collaborating with our clients every step of the way
- Subcontractor Prequalification/Risk Mitigation Consulting: Our partnership with TradeTapp delivers a best-in-class subcontractor prequalification technology platform—one that empowers our clients to expand the scope of subcontractor risk analysis, identify and mitigate risk earlier in the preconstruction process, and make better risk mitigation decisions.
Alternative Risk Solutions & Captives
A Captive Insurance program is often an effective strategy to help contractors achieve their risk management and financial goals. Captive programs (single entity, group and sponsored cell captives) offer several advantages, including:
- More control over claims management
- Underwriting and investment income opportunities
- Alternative risk control strategies
- Long-term, construction-focused solution for managing insurance costs
Controlled Insurance Programs (CIPs)
Also known as “Wrap-Ups,” CIPs are commonly used on major construction projects. Unlike a traditional program—where contractors, subcontractors, construction managers, and owners all provide their own separate insurance—a CIP allows the sponsor (either an owner or a general contractor) of a large construction project to purchase comprehensive general liability and/or workers’ compensation insurance that covers the owner, contractors and subcontractors for the length of the project, plus up to an additional ten years. By having the sponsor control the insurance purchasing, they can provide broad and uniform coverage with high liability limits for all contractors and subcontractors under a master program.
- Our CIP experience includes a wide range of projects—commercial offices, multi-family units, hospitals, light rail, pipelines, refineries, schools, highway projects, condos, and more.
- All McGriff CIP services are performed in-house.
- Our CIP administration includes sponsor access to “VUE Wrap-Up,” our robust online risk management information system.
Claims Consulting
We know that claims dollars are a primary factor affecting insurance premiums, indirect costs, and ultimately, profitability. Our claims management solutions mitigate claims costs and help lower the total cost of risk.
Let’s Connect
Our approach begins with understanding your needs and goals, so please contact us to get started.
Contact Our Specialty Practice Team
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