(1888PressRelease)
January 23, 2008 - Keystone Insurance, a leading construction insurance broker for Ireland’s construction industry, has recently reported a rapid growth in the demand for construction insurance from Irish construction contractors.
The construction industry has grown acutely aware of the need to have reliable insurance, Keystone experts explain. Even though construction insurance is not compulsory by Irish law, few businesses can now afford to take the risk and cover great legal and compensation expenses. The Irish society is rapidly becoming a predominantly litigious one, and the number of law suits and compensations awarded has been steadily growing.
The main types of builders insurance are public and employers liability, contractors all risks, personal accident, plant and machinery, and contract bonds. The most popular and sought-after among these is Public and Employers liability insurance. It is now essential for construction contractors to cover risks to third parties and employees. Although the ‘claims culture’ in Ireland is not as rampant as in the USA or the UK, more and more people now choose to blame and sue someone else, in this case the constructor. In recent years, public liability insurance costs have reduced to levels not previously seen before. Keystone Insurance reports a growing number of clients contacting the firm to get quotes or choose a new insurance provider.
Another popular type of builders insurance is Contractors All Risks. This is an insurance policy specially designed for builders and developers, which can also be made available to certain occupations such as plant hire contractors. Contractors All Risks insurance can include cover for contract works, own plants, hired in-plant and employee’s tools.
Keystone Insurance is a leading insurance broker for the Irish construction insurance. From its headquarters in Dundalk Co Louth, the company services a large client base from all over the country. Besides builders insurance, Keystone offers schemes for all construction occupations, including traditional high risk occupations such as roofers, curtain wallers and scaffolders.
