001-48_126_RENEW_SEPT-OCT26_PT - Flipbook - Page 37
Opportunities that didn’t exist 18 to 24
months ago are now available. Coverage
terms are negotiable in ways that weren’t
during the hard market. Policy wordings
particular to prefabrication and modular components can be tested against the
realities of how these projects are delivered.
Multi-project blanket programs are seeing
renewed underwriter interest.
The opportunity does come with conditions. Markets reward submissions that
demonstrate disciplined risk management:
clear scopes, credible loss control, de昀椀ned
contractor experience and well-articulated approaches. Clients who arrive with a
structured risk story will secure terms that
meaningfully di昀昀er from those who don’t.
As markets cycle, the advantage will narrow. Acting while capacity is plentiful and
underwriter appetite is broad is itself a risk
management decision.
The role of technology in risk control
As projects become more complex and geographically dispersed, technology is becoming a critical component of risk management.
Construction data, once used primarily
for tracking progress, is increasingly being
leveraged to identify and manage risk in
real time. Environmental conditions such as
weather, schedule deviations, labour shortages and supply chain disruptions can be
detected earlier and addressed before they
impact productivity.
Integrating project data with risk indicators allows teams to move from reactive to
proactive management. Instead of discovering issues after they impact cost or schedule,
they can predict issues and intervene when
early warning signs appear.
This is particularly important in defence
construction, where small disruptions can
have outsized consequences due to tight sequencing, security constraints and environmental factors.
For risk managers operating in this space,
the implication is clear — just understanding
basic coverage requirements is not su昀케cient.
E昀昀ective risk management requires visibility
into how projects are actually performing.
A different procurement model for a different
procurement cycle
DCC’s procurement strategies (whether
through modular housing, bundled design-build contracts or early-stage progressive contracts) are designed to accelerate
delivery. They are also signaling a shift in
how projects will be executed.
For the construction industry, this is more
than a pipeline of work. It is a transition to a
di昀昀erent operating environment.
In that environment, the traditional sequence of risk management no longer holds.
Risk cannot be an afterthought addressed
through insurance placement. It must be structured, controlled and continuously managed.
As a risk control-driven brokerage, NFP’s
model re昀氀ects this reality. We focus on ensuring that risk is properly transferred where
possible, actively controlled where it is not
and supported by data that allows for timely
intervention.
The 昀椀rms that adopt this approach will
not eliminate risk. But they will understand
it earlier, manage it more e昀昀ectively and
avoid the kinds of surprises that are becoming more common across defence projects.
As Canada’s defence construction program continues to expand, that distinction
will matter.
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SEPTEMBER/OCTOBER 2026 – RENEW CANADA 37
