Obtaining insurance for a timber building can sometimes be a challenge. Kate Fairhead, Head of Mass Timber for Construction at specialty insurance broker Marsh provided us with valuable insights into how insurers perceive timber buildings at this year’s UK Timber Design Conference. She also explained how best to engage with an insurance broker for a timber project.

While timber buildings are still often perceived as risky by the insurance market, Fairhead has noted some major progress in the last few years. The insurance industry has been responding to clients’ desire to build with timber, and the construction industry is responding to insurers’ concerns.

“Insurance is now frequently being considered at the design phase of timber buildings,” Fairhead says. “This is very refreshing because with most other buildings, it is thought of last – sometimes just a few months before starting onsite.”

A risk-management approach

The fact that a risk-management approach is increasingly being brought in at the infancy of projects is very beneficial to all parties. Fairhead explained: “From the insurer’s point of view, a risk-management approach is essential because timber projects – whether lightweight or mass timber – are associated with greater risk.  This perception is not likely to change any time soon.”

So addressing the key risks is an imperative, as is providing evidence that your project is taking steps to minimise them.

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