AuthorPatrice Nigon

With prices for CAR and EAR insurance rising for the first time in many years, Patrice Nigon asks: ‘How did we get here?’ The soft phase of the cycle within engineering and construction was so prolonged, a hard insurance market is a situation that many in the industry have little to no prior experience in. In discussions related to pricing for typhoon-exposed business, there is...

Construction all-risk insurance (CAR) and engineering all-risk (EAR) insurance premiums have not reflected the underlying risk of projects in recent years, with overcapacity and strong competition in the underwriting market putting downward pressure on rates. Despite this, losses in the CAR and EAR fields are becoming more severe. Risk management in CAR and EAR continue to improve and evolve, but...