What type of ceding company is it good for?
- Global, Lloyd’s syndicate, regional and local insurance companies with specialties in engineering insurance
- Multinational carriers
As technology continues to evolve in the construction industry, coupled with rising demand for complex construction projects and the increasing value of those projects, the industry faces higher technical and economic risk exposures. At the same time,
the industry is confronting tremendous pressure to reduce costs, which is cutting profit margins, leaving organizations exposed should they experience an unexpected and costly event.
The AXIS Global Engineering Reinsurance team provides treaty capacity offered on proportional and non-proportional, on both RAD and LOD basis. AXIS Contractors' All Risks (CAR) Reinsurance along with AXIS Erection All Risks (EAR) Reinsurance engineering coverages are designed to protect many classes of works in construction. Comprehensive coverage is offered against loss or damage, including the works on site, equipment and/or construction machinery, as well as for third-party claims relating to property damage or bodily injury arising from, or in connection with, the project. Our coverages are offered both for project and annual risks.
- Erection all risk
- Contractors all risk
CAR and EAR coverages may each be accompanied by maintenance period insurance, delay in start-up insurance or advanced loss of profit insurance and primary liability insurance for onsite activities. Inherent defect insurance following the completion of
a construction project (often 10 years liability) is mandatory in some jurisdictions and popular in others.
Annual coverages include:
- Machinery breakdown
- Boiler pressure vessels
- Contractors plant and equipment
- Electronic equipment insurance
- Civil engineering completed risk
- Deterioration of stock
- Rolling stock
Above classes may be each accompanied by business interruption (BI) insurance following material damage.
Our highly experienced engineering underwriting collaborates closely with brokers and clients, gaining a deep understanding of each of our cedent's portfolios. Our teams are based in Zurich and Singapore and offer a broad array of services, including consultative quoting, special acceptance reviews and high-quality actuarial supports. Should a claim be reported, AXIS Engineering Reinsurance claims specialists work diligently to ensure claims are resolved efficiently and fairly.
AXIS Engineering Treaty Reinsurance Appetite Guide
Experienced and efficient claims management
Between Claims, Underwriting & Distribution Partners
We employ a collaborative approach to engineering reinsurance claims management at AXIS Re. By working closely with our underwriting teams, we develop a deep understanding of each cedent's entire engineering risk management portfolio. In addition, periodic claims reviews provide brokers and clients with valuable recommendations. By virtue of our years of experience and specialty knowledge, we are able to offer specific advice on the general and legal framework of local markets around the world.Learn more about claims