PROJECT INSURANCE ADVISORY
Independent Review of the Cover Your Project Relies On.
On major projects, you may be relying on insurance arranged by someone else.
Cruden Read reviews your programme objectively, works out what it actually covers and where the gaps sit, and explains what it means for you or the party you represent.
Know where your liability ends.
$40M+ in premiums placed annually
Australian + London insurance markets
100% focused on construction, engineering + mining
Backed by ASX 200 AUB Group
90+ years’ collective experience
When You Are Relying on Someone Else's Insurance
The party arranging the cover is rarely the only party that is relying upon it to cover its risk exposures. . A modestly sized project with a poor risk allocation can leave you more exposed than a larger one structured more fairly. We review that arrangement with your specific interests in mind.
We advise all parties to a construction project:
Project owners and principals
Head contractors
Subcontractors and specialist trades
Consultants and professional services
Project financiers
What We Look At in a Programme
A programme can look complete and still leave you carrying risk you never agreed to. We apply the same risk profiling, quantification and benchmarking methods we use when designing programmes ourselves. The difference is that we assess the programme from your position, rather than the position of whoever arranged it.
The Advisory Work Around the Programme
A review answers what your cover does today and how it interacts with your project risks and risk allocation. This is the work around it.
Contract reviews.
Insurance and indemnity provisions reviewed at tender and updated as terms are negotiated, alongside your project team and legal advisers.
Subcontractor and consultancy agreements.
A full review of how you currently pass risk down, with recommendations aimed squarely at protecting you.
Subcontractor compliance.
Non-compliance surfaces at claim time, when the head contractor is left carrying a claim it should never have had.
Insurable gap analysis.
Workshops with your project staff to find exposures you carry without cover, and test whether the programme fits the project.
Staff presentations.
A session for your team on how the programme works and how it interacts with indemnities upstream and downstream.
Four Reasons Brokers Partner With Cruden Read
We are reviewing it, not selling it.
The review is objective of whoever arranged the programme. The question we answer is whether the cover meets the needs of the project and the party you represent.
We have sat on both sides of it.
We have worked as broker and as adviser across a diverse range of construction projects, so we know the risk requirements attaching to each party, not just the one holding the policy.
We advise parties across the project.
Principals, head contractors, subcontractors, consultants and financiers each look at the same programme and find a different set of exposures. We can act for any of them.
We know what better looks like.
We write our own manuscript wordings and place over $40M in construction premium annually, with access to Australian and London markets. That gives us a working benchmark for what your project programme should be delivering.
The People Who Answer
Cruden Read was founded in 2018 by Jeremy Read and Leigh Cruden. Drawing on their experience with major international brokerages and some of Australia’s largest and most complex construction accounts, they saw an opportunity to do things differently.
Today, Cruden Read brings together a team of experienced construction insurance specialists, combining deep expertise in construction risk and risk transfer to provide you with direct access to senior staff and exceptional client care.
From the Clients and Brokers We Serve
The Time to Ask Is Before the Contract Is Signed
Insurance and indemnity provisions are far easier to raise while terms are still being negotiated than after the project is under way. Whether you are pricing a tender, joining a consortium or being asked to rely on a principal arranged programme, bringing us in at that point gives you the answer while you can still do something with it.
