Construction Contractor Risk

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Construction Contractor Risk

In today's complex construction environment, risk affects more than just projects, it is embedded in every action an organization takes. Marsh helps architect, engineer, and contractor firms, construction managers, design builders, contractors, subcontractors, specialty contractors, home builders, and material dealers address the challenges they face by approaching issues from their organization's perspective.

We seek to understand an organization's business goals, challenges, limitations, and financial and operational objectives. Working together, we identify and prioritize the risks to build a risk management solution using appropriate risk transfer mechanisms, services, and processes to effectively mitigate and manage risk today and in the future.

Insurance Design & Placement — Marsh designs insurance programs that address corporate as well as project risks to include the optimal blend of insurance, alternative risk transfer, and retained risk in order to maximize protection.

Our programs often include typical property and casualty coverage, as well as environmental liability, professional liability, builder's risk, political risk, directors' and officers' liability, cyber risk, and terrorism. We also can help analyze the benefits of using a single parent or group captive and manage the captive for the client.

Surety – Marsh helps clients to manage their surety programs to satisfy contractual obligations, protect assets, and support current and future business needs. Marsh surety experts specialize in difficult and challenging placements.

Subcontractor Default — Avoiding this risk requires a thorough review of subcontractor qualifications prior to subcontract award. Marsh can help identify potential adverse implications of a subcontractor's financial situation and provide guidance for managing the risk of subcontractor default.

We also can help contractors to assess their need for subcontractor default insurance, and implement a program best suited to their risk appetite and project type and volume. Additionally, we can help subcontractors to gain competitive advantage by presenting their financials to contractors in the best possible light.

Risk Consulting — Marsh offers extensive, process-driven strategies and tools designed to manage and monitor risks from a project's earliest stages to the final delivery and commissioning.

Project Risk Evaluation & Framework Services — Marsh services are directed at delivering independent third-party risk evaluations and mitigation strategies for capital projects and project portfolios. Marsh's project delivery risk management framework services are instrumental in assisting clients in meeting the project financial, schedule, and performance requirements of key project stakeholders such as insurers, rating agencies, internal boards, and lenders. Our methodologies and approach center on developing a risk management decision making process and designing a risk control framework to meet or exceed benchmark standards commensurate with world-class organizations.
Project Governance — Projects with tight margins, strict schedules, high risks, and complex reporting requirements limit management's ability to identify and mitigate problems when they occur. Marsh can help by providing the management team with the tools to identify and influence project performance before problems arise.
Project Performance Audits — Marsh helps clients address the challenges bought on by the increased need for transparency in project management, common goals in the review process, and standardization in contractor payment processes.
Loss Control — Marsh can provide risk engineering services, site surveys, health and safety consulting, and insurance claims management.
Supply Chain — Marsh provides a complete suite of supply chain risk services, from identifying and mapping risk within the supply chain to identifying and applying solutions (alternative risk strategies) to monitoring threats that affect a client's supply chain.
Crisis Management — Crises or adverse events for construction can include regulatory inquiries, litigation, labor concerns, criminal and fraud investigations, community protests, physical events, and natural disasters. Effective management of crises can mitigate the adverse impact of a crisis, reduce costs to the organization, and offer an opportunity to significantly enhance reputation, brand, human capital, public trust, and shareholder value. Marsh provides crisis management support and expert advice for all phases of an adverse event or crisis.
Business Continuity — By focusing on business interruption risks and developing strategies designed to reduce and mitigate such risks, Marsh helps organizations in their efforts to retain and gain further competitive advantage and safeguard reputation during business disruptive moments.
Mass Tort & Complex Liabilities — Allegations surrounding such liabilities can span decades and include "long-tail" exposures involving construction defects, including methods and products, as well as asbestos, silica, environmental contamination, product liability, construction defects, and much more. We help companies obtain and increase insurance recoveries, avoid costly litigation with insurers, and mitigate the financial effects of mass tort and complex liabilities.
Background Screening — Our sister company, Kroll, can help eliminate doubt about the integrity of job applicants and vendors. Kroll can vet potential and existing hires, examine professional and academic claims, and identify a range of omitted issues that could affect job performance.
Fraud — Our sister company, Kroll, can provide construction and real estate companies with integrity and fraud risk assessments, threat-reduction analysis and can assist in the implementation of compliance programs.

Dispute Resolution Services — Marsh provides comprehensive tools and solutions to assist in resolving disputes quickly and efficiently to minimize adverse financial and business impacts. These tools include schedule, budget and issue analyses, arbitration and litigation support, and expert testimony.

For more information, please visit our Construction Contacts page or contact us at .