Historically, the size of individual Lloyd's syndicates has limited their ability to offer credible lead capacity for the largest risks. The Construction Consortium at Lloyd's resolves this issue.
- Up to US$320 million probable maximum loss capacity (approx. equivalent to a US$1.09 billion participation on a sum insured basis)
- A lead market for all types of onshore construction and engineering projects worldwide
- Flexible participations – any consortium syndicate can lead
- Bespoke wordings for clients and their projects
- Lloyd's financial security (A.M. Best A: Excellent, S&P A+: Strong, Fitch AA- Very strong)
- Rapid service to meet brokers' deadlines
The construction consortium has been carefully designed to ensure that the specialist expertise of the individual consortium partners can be swiftly backed by substantial capacity.
HOW IT WORKS
The six members of the consortium have different areas of expertise and focus and varying underwriting appetites for different classes of risk. The consortium makes good use of this diversity, aligning capacity behind the syndicate that is most experienced and expert in the risk class for which cover is sought.
"Travelers Syndicate is pleased to be joining the Construction Consortium at Lloyd's, and we look forward to contributing to its ongoing success. The Consortium has quickly become a recognised Lead on the Global Construction stage and being a part of it reinforces Travelers leadership position"
Head of Global Construction, Travelers
The descriptions contained in this communication are for preliminary informational purposes only. Coverages are underwritten by syndicates at Lloyd's that are participants in the construction consortium and will vary depending on individual country law requirements and may be unavailable in some countries. The exact coverage afforded by the product(s) described in this communication are subject to and governed by the terms and conditions of each policy issued.