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Construction Risk Management and Insurance Solutions
A successful construction project requires more than just insurance. You want comprehensive risk management support from project financing to final completion. Brown & Brown collaborates with you through every phase, providing specialty guidance that goes beyond traditional insurance placement. Here are a few examples of how we help you protect your contracts, so you can build with confidence.
Surety Bonds for Construction Projects
Construction projects rely on contracts, and surety bonds provide the financial backing to guarantee those commitments are met. We help you navigate the complex surety marketplace to secure the credit you need. Our surety specialists have extensive experience helping contractors, subcontractors and developers to:
- Maximize surety credit to bid on and perform work
- Plan for project unknowns like permits, weather, and local codes
- Manage subcontractor risks effectively to keep your project on track
Construction Risk Management
You have deadlines to meet, blueprints to bring to life and heavy equipment to operate. Because each activity comes with risks, you need to design a comprehensive risk management strategy as you plan your project. Our team can assist with site visits and tools to help you manage your specific exposures.
Alternative Risk Financing and Captive Insurance
When your company needs protection beyond traditional insurance, we can design and manage a captive solution. Captives are a form of self-insurance that can enhance risk control, reduce costs, and improve cash flow. Our team handcrafts captive strategies to address a broad range of specialized risks, giving you greater options for coverage.
Environmental Risk Management Services
Environmental exposures can create significant and lasting liabilities for your project and your business. Our specialists provide environmental due diligence before construction begins and perform exposure reviews and analysis to tailor risk solutions for your project.
Safety and Regulatory Compliance Programs
A strong safety culture protects your most valuable asset: your people. It also helps you avoid costly delays and penalties. We guide you in assessing your risk, developing safety plans, and providing training. Other services include loss control analysis and guidance on OSHA compliance to enhance jobsite safety.
Construction Claims Management and Advocacy
When an incident occurs, a swift and fair resolution is critical. Our team provides claims management and advocacy to support you through the entire process. We analyze losses to identify trends, help you implement targeted initiatives to reduce future risks, and advocate on your behalf to help control the overall cost of your insurance program.
Construction Risk Management FAQs
A bid bond provides financial assurance that you will enter into a contract if you are the winning bidder. A performance bond guarantees you will complete the project according to the contract's terms. A payment bond ensures that you will pay your subcontractors, laborers and material suppliers.
Surety bond requirements are usually specified in the project's contract documents. Public projects often legally require them, while private owners may also mandate them to protect their investment. Our team can review your contracts to help identify all requirements.
Assessing environmental risks involves site assessments, historical property reviews, and analyzing the potential impact of your operations. This process identifies issues like soil contamination or hazardous materials that could lead to future liability.
Environmental due diligence is the process of investigating a property for potential environmental contamination or liabilities before purchase or development. It is crucial for protecting your investment, avoiding unexpected cleanup costs, and ensuring regulatory compliance.
A captive can offer reduced insurance costs, improved cash flow, coverage for risks not available in the traditional market, and direct access to reinsurance markets. It also gives you greater control over your risk management and claims process.
Ensuring compliance involves developing a site-specific safety plan, conducting regular employee training, performing routine site inspections and hazard analysis, and maintaining thorough documentation. Brown & Brown can help you stay current with all regulations.
Effective safety training empowers employees to identify and mitigate hazards, follow correct procedures, and use personal protective equipment properly. This proactive approach leads to fewer incidents, which in turn reduces the frequency and severity of workers' compensation and liability claims.
Wrap-up programs like OCIPs (owner-controlled insurance programs) or CCIPs (contractor-controlled insurance programs) make sense when you need to streamline coverage for large or complex construction projects. By consolidating insurance for all parties under one policy, you gain better control over costs and claims.
Wrap-up program feasibility depends on a project's size and scope:
- Residential projects ($10M to $25M): You can implement "liability-only" wrap-ups for smaller projects, such as condos or home developments. This typically includes general and excess liability.
- Large-scale projects ($125M+): To include workers' compensation alongside general liability, you typically need a project value starting around $125M.
Additionally, you might want to explore environmental liability wrap programs to protect your investment against pollution risks.
Additional Resources
Market Trends
Our 2026 report unites Brown & Brown and Risk Strategies resources, knowledge and proven experience to deliver stronger insurance solutions for commercial insurance, employee benefits and personal insurance.
Workers’ Comp Insurance: 8 Ways to Trim Costs
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Connect with Brown & Brown
Brown & Brown’s construction specialists can help you manage every facet of project risk. Our team provides the guidance, tools, and insurance solutions you need to build confidently and achieve your goals. Connect with us to discuss your construction risk management strategy today.