News

Tuesday 19th April 2022
Why have bonds become so important to the UK construction market?

In times of prolonged economic uncertainty, the demand for Guarantee Bonds has grown significantly within the UK construction industry. Due to the financial impact of recent global events, many firms are contractually required to have a guarantee bond in place to protect their Employer in the event of the Contractor’s default on their contractual obligations […]

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Monday 11th April 2022
Trade Credit insurance – secure trading in uncertain times

The UK construction industry has shown remarkable resilience in dealing with the economic uncertainty of several unprecedented events such as Brexit and Covid-19; with the devastating conflict in Ukraine prolonging this period of financial insecurity, many firms are now looking to the insurance industry for extra protection. Trade Credit insurance has become a lifeline for […]

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Monday 11th April 2022
Repair and maintenance work surpasses new business growth in January

Neon Mavromatis, Managing Director Construction, Kerry London, summarises the latest data from the Office of National Statistics (ONS) regarding monthly construction growth. Monthly construction growth increased by 1.1% during January 2022 and is now at its highest level since September 2019; this follows an increase of 2% in December 2021 and is the third consecutive […]

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Monday 11th April 2022
Counting the cost of red diesel restrictions

While the Chancellor’s 5p per litre fuel duty cut on petrol and diesel was welcomed by the construction industry, it is undoubtedly overshadowed by the significant cost of red diesel usage restrictions that were introduced on 1 April 2022. The restrictions are being introduced to help meet the government’s climate change and air quality targets. […]

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Thursday 7th April 2022
Professional Indemnity: Planning ahead

Professions working in the construction industry continue to face increasing challenges when renewing their professional indemnity insurance (PI). Stricter conditions in the insurance market following the tragic Grenfell disaster and the pandemic resulted in the reduced availability of insurance cover and increased premiums. According to a recent Royal Institute of Architects (RIBA) member survey, 80% […]

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