Revealed – Canada’s top construction insurers for 2024
Revealed – Canada’s top construction insurers for 2024 | Insurance Business Canada
Construction & Engineering
Revealed – Canada’s top construction insurers for 2024
Report reveals key factors brokers prioritise when choosing a construction insurer
Construction & Engineering
By
Roxanne Libatique
Insurance Business Canada (IBC) has highlighted the top-performing insurers in the construction sector with its 2024 5-Star Construction Insurance Awards.
The companies were identified for their effectiveness in serving a market subject to significant cyclical changes.
The awards were based on findings from the Brokers on Construction report, which surveyed a large number of brokers across Canada. The survey sought to determine the most critical qualities brokers look for in a construction insurer and to assess the performance of insurers with whom they had interacted over the past year.
Selection process for IBC’s 5-Star Construction 2024 list
The selection of the 2024 5-Star Construction Insurance providers was driven by a detailed survey conducted by the research team at IBC.
This survey reached out to various brokerages to identify the key factors that brokers prioritise when choosing a construction insurer. Furthermore, brokers from across the country were asked to rate the construction insurers they had worked with during the past 12 months.
The data collected from these surveys enabled the research team to assign weighted values to different criteria, such as the quality of work, level of expertise in the construction sector, and client service.
Insurers that scored highest in these areas were awarded the 5-Star designation in construction insurance.
Top insurance companies for construction in Canada 2024
Some of this year’s awardees include:
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