Willis
Construction Risks
Willis Limited
Construction Risks
Ten Trinity Square
London EC3P 3AX
United Kingdom
Tel: +44 (0)20 7488 8111
www.willis.com
Client:
The British Land Company PLC
Project:
51, Lime Street.
24 storey development of the most
modern office accomodation in the
heart of the City of London, adjacent
to the Lloyds Building.
Construction Period:
3 years
2 Willis Construction
Willis Construction Risks strength
through diversity and market leverage
Willis was founded in 1828 and is one of the construction risk managers all working together
longest established and largest insurance brokers to design and deliver solutions for all aspects of
in the world. the industry from specific projects to bespoke
annual programmes for contractors. Our diverse
Willis Construction Risks, part of the Willis array of expertise and strong market leverage
Group, was formed in 1964 and comprised 4 means we bring our clients the most cost-
people; we now employ over 600 people effective programmes.
worldwide and place a total of $1.5 billion worth
of premium per year. Willis Construction Risks specialise in risk
identification and analysis and in the design and
We provide services from London and the USA delivery of tailor-made risk transfer programmes.
to our regional operations in Europe, the Far East,
the Middle East, Australasia and South America. We deliver a wide range of products and
services to owners, developers, contractors,
We can boast a London based team of 65 project managers, project financiers, professional
construction specialists from a variety of different consultants and insurers, from the planning stage
backgrounds, each contributing to what makes of any construction project through to its final
us unique breadth and depth of experience, completion and beyond.
client-focused global expertise delivered locally
and unified industry commitment. Willis Construction Risks' unique blend of
technical know-how, market experience and
We have brokers, engineers, lawyers, insurance service commitment underpins its reputation
technicians, former underwriters and former for innovation, creativity and professionalism.
Willis Construction 3
Client: London and Continental Railways
Project:
Channel Tunnel Rail Link
The United Kingdoms largest infrastructure project, including
108km of railway, over 25% of the route (26km) in deep
tunnel and a 1.3km viaduct
4 Willis Construction
The Willis difference why Willis?
Proven track record our claims team are co-located in the same
building. This guarantees that any issue arising
We've consistently developed innovative risk around a claim will be dealt with immediately.
solutions for some of the most famous worldwide
projects to date, including: All our services are managed under one
convenient roof including research and
the Channel Tunnel Rail Link in the UK development, business development, broking
the new Hong Kong Airport resources, account executives and claims.
Quality people work for quality companies. Willis The values that drive us
Construction attracts the best people in the
market because we are a market leader. For our We know without a loyal client base, we
clients, the benefits are simple - expert advice can't deliver value. The client is first, ALWAYS.
that is prompt, accurate and concise. We take pride in our service.
Construction is a highly complex and extremely The Client Advocate is a dedicated professional
technical industry. With the right people, who acts as a portal between, you, the client and
specialisation and volume of business, we ensure the Global Willis Team drawing on our worldwide
that we remain at the cutting edge in this sector. resources to deliver you the best possible
solutions where they are required.
Our clients get the best advice available and the
attention to detail that can only come from a While you may be helped by Willis specialists in
specialist broker like Willis. many offices around the world, it is the Client
Advocate who will be dedicated to your account.
The only totally integrated construction
department among the global brokers You can have peace of mind knowing that
a focused individual will be responsible for
As the only totally integrated construction your needs.
department amongst the major global brokers,
"The expertise and skill of the Willis team has made the insurance
management of this huge project very straight-forward. Our Client
Advocate delivered the solutions in a truly professional and
pro-active manner."
Union Railways, CTRL Project.
Willis Construction 5
Global resources, local delivery - 'glocal'
UK
Project: The Nigeria LNG Plus Project - construction of two
USA additional trains to produce 8.2 Mtpa of LNG, 1.1 million
Australia Mtpa of LPG and 0.4 Mtpa of condensate. The project also
China/Hong Kong provides for extension/modification of the LPG jetty to load
France (in association with Gras Savoye) LNG, a new materials off-loading facility, and expansion of
common and off-site facilities.
Italy
Spain Construction Period: 3 years
Germany
UAE
Scandinavia Images courtesy of Nigeria LNG
6 Willis Construction
Our passion is protecting
your balance sheet
Willis Construction 7
8 Willis Construction
Client: Tacoma Narrows Constructors being a
joint venture between Bechtel and Peter Kiewit
Willis Construction 9
Our products
10 Willis Construction
Bespoke services for owners
and contractors
Willis Construction 11
Insurance market security review
Willis monitors closely the security of insurance and reinsurance markets world-wide. We seek to
ensure, as far as we are reasonably able, that our clients risks are placed with secure and solvent
carriers, which will meet valid claims as and when they fall due.
Whilst we do not guarantee the financial strength or solvency of any carrier utilised, Willis does attach
the highest priority to security issues.
Willis has a team of 25 professionals globally, trained in a range of disciplines, including financial and
management accountancy, insurance, banking, insolvency and general research. This includes analysts
who have particular responsibility and experience in respect of Lloyds of London.
Willis Market Security Department monitors all carriers in use on an annual basis, which requires an
in-depth understanding of the factors and influences affecting different markets around the world. The
review includes consideration of the opinions of rating agencies and market commentaries globally.
12 Willis Construction
"These days the strength of your broker and the financial security of
your insurer are the two most important factors to consider when
determining who you deal with. Willis Construction delivers on the
key issues."
Lewis Yazbek, Managing Director, Southern Cross
Constructions, Australia
Willis Construction 13
Claims management and consultancy
Our claims management experts are an integral part of our client servicing team, playing an active
role in designing claims procedures, establishing policy liability, and negotiating quantum with insurers
leading to settlement.
This co-ordinated approach ensures that when a claim event does occur all parties are fully aware of
policy coverage issues. Early involvement of the claims team facilitates efficient loss notification and
adjustment, leading to prompt and fair settlement of claims. This helps minimise any delays in project
completion and the adverse financial consequences these may bring.
CLAIM EXAMPLE:
LARGEST EVERT SINGLE CIVIL ENGINEERING CLAIM PAID BY THE LONDON INSURANCE MARKET!
Willis supplied a senior member of the claims department to the assured for two years to
co-ordinate the claims presented from the many different contractors involved. The collective
claims resulted in the largest single civil engineering claim paid by the London insurance market.
14 Willis Construction
Willis Limited
Construction Risks
Ten Trinity Square
London EC3P 3AX
United Kingdom
Tel: +44 (0)20 7488 8111
www.willis.com