JLT Works with clients to create

'Bankable' Insurance programmes as

Europe waits to see if Construction

projects increase in 2010

Jardine Lloyd Thompson Limited (JLT) has emphasised the importance of creating 'Bankable' insurance programmes for construction projects at the Federation of European Risk Management Association (FERMA) conference this week.

Paul Knowles, Divisional Managing Director of JLT's Construction team, says "Over the last few months, there has been a higher level of project closures. However, the projects are mainly infrastructure deals with only a limited number of commercial developments starting in 2009, and the overall project numbers still way down on 2007 levels. This means that insurers are chasing fewer risks to meet their premium targets, which is continuing to apply downward pressure to rating structures".

Bernadette Hackett, Partner, JLT, says "Whilst major Infrastructure projects are still getting financing, many are finding private financing for projects difficult. We are working with clients to get not only the most competitive insurance deals, but also to get 'bankable' insurance programmes on their projects, satisfying the banks' needs to help our clients get their projects moving.

"One aspect of this could be to consider credit enhancement insurances in place with our Credit and Political Risks teams to improve our clients' ability to attract finance. The pressures of the last 12-18 months in the construction market have meant that JLT's approach of looking at projects from all angles has helped our clients in a difficult market to keep their business competitive. Whilst we hope construction projects will pick up in 2010 it's better not to take this for granted, making sure good risk management programmes are in place and as much work is done as possible to make projects as attractive as possible is key".

Enquiries:
Bernadette Hackett is on stand 13 at FERMA and can be contacted on
Tel: +44 7930 215 147

Jardine Lloyd Thompson Ltd
Isabella Young
Tel: +44(0)20 7558 3387
EMAIL

Editor's Notes:

About Jardine Lloyd Thompson Limited (JLT)
JLT is a specialist London market insurance broker and risk consultant providing market leading industry knowledge and expertise in specialist fields to some of the world's largest companies.

JLT is part of the Jardine Lloyd Thompson group of companies, a leading risk management adviser, insurance and reinsurance broker and a major provider of employee benefits administration services and related consultancy advice.

Jardine Lloyd Thompson Group plc is quoted on the London Stock Exchange and employs 5,500 people worldwide and through JLT NetworkTM provides our insurance broking services in more than 120 countries.
http://www.jltgroup.com/about/our-businesses/jlt-limited/