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Evergreen policies: The future of construction insurance?


Publication date:

22 March 2021

Last updated:

24 March 2021


Oliver Scott

FCII dissertation on how a continuous period policy, that automatically renews an agreement after the expiry date, could benefit the UK construction market.

Insurance policies are the foundation of insurance, embodying the cover purchased by the client. They fulfil the criteria of consideration when creating a contract between the client and the insurer; the client pays the premium and the insurer provides the insurance policy and the promise to pay valid claims.

For something so instrumental in the world of insurance, it is something that is almost taken for granted, just a means of detailing the extent of policy coverage. These policies however dictate the very fabric of our sector, operating on an annual or multi-year project specific basis with the repetitive cycle of information gathering, quoting and binding the policies a result of this. Policies have been bound on this basis for countless years, with it becoming the accepted norm that if you require an insurance policy, this is the process you must adhere to.

But what if it wasn’t? As with everything, industry norms are only there until someone asks "why?" and delves a little deeper to understand why things are the way they are.

Evergreen policies are the result of such a process; a process which looked beyond the standard structure of a policy and beyond into the possibilities which could enhance the service offered by an insurance broker to their clients. Currently only used on a small scale in a handful of sectors evergreen policies present an exciting future. As stated by Nicolas Aubert (CEO of Willis GB), evergreen policies are “an evolution of the insurance policy and it represents real innovation”.

The purpose of this paper therefore is to analyse the concept of evergreen policies and see if it has the potential to revolutionise the insurance sector, in particular the
construction sector. It considers the following:

  • what an evergreen policy is
  • the current landscape of construction insurance
  • evergreen policies in use
  • issues and benefits in the construction insurance market


Read the full report HERE

This document is believed to be accurate but is not intended as a basis of knowledge upon which advice can be given. Neither the author (personal or corporate), the CII group, local institute or Society, or any of the officers or employees of those organisations accept any responsibility for any loss occasioned to any person acting or refraining from action as a result of the data or opinions included in this material. Opinions expressed are those of the author or authors and not necessarily those of the CII group, local institutes, or Societies.