Chubb’s new construction industry practice provides a comprehensive range of services to support clients and brokers across multiple risk areas. Credit: T. Schneider/Shutterstock.

Property and casualty insurance company Chubb has established a new construction industry practice, targeted at contractors within the UK and Ireland markets.

This initiative is designed to consolidate the company’s expertise in the sector, offering a comprehensive range of services to support clients and brokers across various risk areas.

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The construction industry practice team, composed of specialist underwriters, risk engineers and claims executives, is distributed across Chubb’s branch network.

This structure is intended to promote local trading and provide tailored services throughout the UK and Ireland.

Chubb’s new practice is focused on contractors with annual revenues starting from £10m ($13.1m) and is applicable to both annual contracts and single projects.

Chubb is also introducing a MasterPackage product specifically for construction companies.

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This multi-line offering will encompass contractors all risks, casualty, contractors pollution liability and property insurance, simplifying the process for brokers handling construction business.

Chubb UK and Ireland construction industry practice leader and regional tech lines manager Tom Finnegan said: “Chubb’s Industry Practice approach brings our construction offering to a new level. We have a large, dedicated team of experts across the country who understand that construction clients have multiple and varied insurance needs.

“We have a broad risk appetite across mid-market and larger clients, which we believe will help deliver the coverage, support and service that companies know and expect from Chubb”

In August this year, Chubb made various executive appointments to bolster its finance team.

Beyond construction, Chubb also caters to other specialised sectors including life sciences, technology, real estate, media and HealthTech.