Allianz has refreshed its construction insurance capability across the European Economic Area, a product update that matters to UK contractors because gaps or inconsistencies in cross-border cover can leave contract works, plant and liability exposures unprotected on overseas projects.

Allianz, headquartered in Munich, Germany, is one of the world's largest insurers, with its UK arm, Allianz Commercial, providing construction insurance including contract works, contractor's plant and liability cover to UK contractors, developers and civil engineers.

The refreshed capability sits within Allianz's wider Multinational proposition, which the insurer says grew 19.1% in 2025 and also spans property, business interruption, liability, motor fleet and professional services cover, targeting UK-based contractors seeking annual or single-project policies.

The update follows Allianz Commercial's May 2026 appointment of Karol Dobias as global head of multinational and the earlier launch of a Multinational Excellence Center in Madrid, giving this construction-specific refresh a wider strategic backdrop rather than standing alone.

Karen Boothroyd, head of construction, engineering and energy at Allianz UK, said construction businesses do not operate neatly within borders and neither do the risks they face, with projects, people, equipment and contracts often moving across territories in ways that make cover more complex for brokers and their customers.

Cross-border construction risk is genuinely harder to price and cover than most multinational insurance lines, because liability, labour law and building regulation vary meaningfully even within the EEA's single insurance market.

UK construction services exports currently make up just 0.4% of total UK service exports, and Mace-commissioned research estimated lifting that to 1% could generate an additional £11.5bn in export revenue and 142,000 new jobs.

For the sector, insurers refreshing cross-border construction products are responding to, and enabling, a UK contracting industry that government and industry bodies both want to push further into overseas project delivery, converting a stated export ambition into the practical cover contractors need to actually bid for that work.

Brokers advising contractors on EEA-bound projects will increasingly need to treat cross-border liability and plant cover as a genuine differentiator when comparing insurers, rather than a domestic policy extension bolted on as an afterthought.

Source: Insurance Business / PBC Today