LONDON, UK | 21 July 2025
Victor, a leading global managing general underwriter (MGU), today announced the launch of Contractors All Risks (CAR) Insurance, its latest new product offering in the UK targeting contractors and subcontractors with up to £20 million in annual revenue.
Developed in collaboration with A-rated specialist engineering and technology insurer, HSB, Victor’s CAR insurance offers policy maximums up to £10 million per construction project. The policy, which is designed primarily to be a contract works insurance offering for contractors, also includes defined coverage for defective design, BIM licensing and BREEAM certification, technology-based monitoring and modelling tools, remote-controlled equipment, and additive manufacturing solidification loss or damage.
“Contractors today face a range of emerging risks related to sustainable building standards and advanced technology integration, such as the use of AI and drones in construction settings” said Rob Aston, Head of Construction at Victor Insurance UK. “With this Victor CAR solution, brokers have access to specialised underwriting and industry expertise along with a comprehensive solution that specifically addresses these risks for their SME clients in the construction industry.
Simon Parrish, Chief Underwriting Officer, added, “Helping clients in highly specialised industries navigate increasingly complex risk environments is core to Victor’s mission. We’re excited about our new CAR proposition and, backed by HSB and their construction industry pedigree, we look forward to delivering innovative underwriting solutions for brokers and their construction clients.”
About Victor
Victor Insurance is one of the world’s largest managing general underwriters with locations in the US, Canada, UK, Netherlands, Germany, Italy, and Australia. It handles more than US$4 billion in premium on behalf of numerous insurance and reinsurance relationships, through a large network of more than 20,000 active insurance agents and brokers. With deep, specialised underwriting expertise, the company provides a wide range of insurance solutions – from specialty property and casualty and professional liability insurance to group and retiree benefits. Victor is committed to building on 65-plus years of experience to develop products that address risk in new and evolving areas. For more information, visit www.victorinsurance.co.uk.
Media Contact(s)
Margaret Woodruff
Head of Communications, Victor
T: +1 905-755-2276
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