Construction
Helping You Build Your Legacy and Reduce Your Exposure to Risk
Your organization understands what it means to have a firm foundation. For over a century, McGriff has developed foundational risk strategies for construction clients to safeguard their businesses. Our experienced team of more than 100 construction teammates partners with global, national, and regional companies in all sectors of the industry.
We develop creative and innovative solutions for:
- General contractors
- Infrastructure and P3s
- Specialty trades
- Highway and 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. Our combination of innovative and traditional risk management strategies lead to the most cost-effective solutions for our clients.
Construction Risk Management
Your unique challenges depend on creative and innovative solutions. We have 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 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 several 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.
- Subcontractor Prequalification/Risk Mitigation Consulting: Our partnership with TradeTapp delivers a best-in-class subcontractor prequalification 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. In a traditional program, contractors, subcontractors, construction managers, and owners all provide their own separate insurance. A CIP on other hand 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 10 years.
When the sponsor controls the insurance purchasing, they can provide broad and uniform coverage with high liability limits for all contractors and subcontractors under a master program.
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.
Ready to Get Started?
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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