A detailed description of the business and its projects helps insurers assess a Construction Contractor accurately. Incomplete or broad descriptions can delay quotations or result in terms that do not reflect the actual work.

Business and activity details #

• a clear breakdown of all activities and trades
• annual turnover, wages, employee numbers and subcontractor payments
• years in business and relevant experience
• where work is performed, including interstate or remote projects
• any high-risk work, even if it represents a small percentage of turnover

Project and insurance details #

• typical and maximum project values, types and duration
• principal clients, site types and any special access requirements
• design, advice, project management or other professional services
• plant, tools, vehicles, hired equipment and current values
• required limits, existing insurance and recent claims history

Copies of insurance clauses or principal contracts can help identify unusual requirements. Current policy schedules, claims information and an equipment list may also speed up the review.

If the business is changing activities or bidding for a larger project, explain the proposed work rather than relying only on historical figures.