Construction
Home > Sectors > Construction Sector
After a sharp decline in private sector activity following the global economic downturn, public sector investment has kept the UAE construction sector buoyant. Reviving private sector activity and continued state funding for ambitious initiatives across ports, airports, roads, railways, healthcare and education make this a time of significant opportunity for construction companies.
Naturally, there are challenges too. These include uncertainties around the introduction of VAT and rising building material costs, as well as weaker economic growth globally and depressed oil prices locally dampening demand. But with continuing political stability, a rapidly growing population and massive infrastructure investment, the outlook for the sector looks encouraging.
■ Why Sifra Watan P.M Services?
Sifra Watan P.M Services has supported financial institutions for more than 15 years. We work with many of the world’s leading banks, insurers, fund managers, stock exchanges and other financial institutions.
We know that you need quick decisions when arranging cover for construction projects, so we put you in direct contact with specialist underwriters who can respond quickly and creatively, helping you to make the most of your opportunities.
We understand that protecting your cash flow and margins is crucial, so in the event of a claim, we work hard to achieve the best outcome as promptly as possible. Our claims people have the authority to make decisions, so they are able to respond to your needs efficiently and effectively.
As part of the wider Sifra Watan P.M Services, we have the resources to deliver insurance solutions and support wherever your operations take you. Our global footprint extends to more than 150 countries, so we are well placed to deliver globally compliant multinational programmes.
■ Relevant products
General Liability
Our General Liability cover offers effective protection against claims for damage or injury brought by third parties.
Read more
Professional Indemnity
We cover a wide range of professions for losses and defence costs if they provide inadequate advice, services or designs that cause a client to lose money.
Read more
Property
We offer comprehensive protection for damage to your organisation’s physical assets, as well as business interruption.
Read more
Political Risk, Political Violence and Terrorism
We cover companies against losses arising from war on land, confiscation and expropriation, political violence and terrorism.
Read more
Cyber
Our Cyber policy protects against the range of risks associated with cyber breaches and provides critical support in the event of an attack.
Read more
Directors’ and Officers’ Liability
Our Directors’ and Officers’ cover protects your senior employees against claims resulting from actual or alleged failings in the carrying out of their duties.
Read more
Engineering
We offer a range of covers to contractors, including construction all risks, erection all risks and plant all risks.