Construction
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The initiative follows the launch of Zurich's construction weather parametric solution, a project designed to support sustainability.
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The new product will focus on controlled insurance programs for contractors and owners as well as project-specific policies. -
Projects on hold are restarting, and materials prices are jumping 25% to 30%.
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Dane Lopes has joined as CCO, while Jason Lamonica will lead Vantage's new construction insurance business in the US.
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The executive will report to Alex Wells, head of middle market at Zurich’s Illinois-based operations.
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In a recent white paper, the insurer said future catastrophe claims could expose increasing instances of underinsurance.
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The newly created role is part of the firm’s strategy to split its construction business into two segments, property and casualty.
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Victor Insurance’s report dives into the challenges and innovations brought to the marketplace in a post-pandemic world.
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In its mid-year construction trends report, Gallagher emphasizes the need for brokers specializing in construction to help the industry address challenges.
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The executive will oversee a roughly $300mn book of business, and replaces Jim Cornwall, who left the carrier in April.
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Thompson takes over from Adrien Robinson who was promoted to lead the entire specialty lines business on June 10.
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Thomas Littlefield joins the business as director of large surety accounts.
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