Price Forbes, a re/insurance broker based in London, has expanded its exclusive insurance platform, Lectio, to now include construction and builders risk coverage. This new addition supports short-term construction projects in the U.S., Canada, and Australia, following pre-approved Lloyd’s leaders seamlessly across placements.
Since its launch in April 2021, Lectio initially covered cargo, specie, financial products, healthcare, and marine insurance. At that time, it handled around $350 million in gross written premiums. The platform has steadily grown, now encompassing more areas like aviation, cyber, energy, power, and worldwide property. With the latest addition of construction coverage, Lectio’s total premiums under management have increased to about $1.2 billion.
Dan Walsh, chief underwriting officer at Lectio, highlighted how this new capacity enhances the platform’s value, thanks to strong insurer confidence and a smart use of data. He mentioned that the expansion would offer clients more efficiency and tailored insurance solutions.
John Thompson, CEO of Price Forbes Broking, expressed his pride in the team’s hard work to bring this new class of business onboard. He pointed out that adding construction capacity allows the company to keep providing the flexible and reliable service their clients expect.
Price Forbes operates as part of The Ardonagh Group, one of the world’s biggest independent insurance distribution networks and a top 20 global broker. This update to Lectio underlines Price Forbes’ commitment to growing its offerings and serving its clients with exclusive coverage options across multiple insurance classes.