Construction - Target Market Statement
What is the purpose of this product?
This product is designed to provide insurance solutions for businesses operating in the construction sector. The cover is designed to protect against a range of risks associated with construction activities, including damage to property, machinery, and equipment, as well as liabilities arising from business operations. Sector-specific products offer tailored protection to meet the unique needs of different areas within the construction industry.
What is the target market?
The product family is designed for UK-domiciled businesses operating in the construction sector, including:
- Individuals, sole traders, and large commercial operations
- Business users, contractors, and other users of hired-in industrial or construction type plant
What is the non-target market?
- Non-UK domiciled entities (except for Irish subsidiaries covered by the Contractors Combined Ireland policy
- Corporate and Tradesperson product variants are not interchangeable; each is restricted to its target segment
- Businesses not operating in the defined sector for sector-specific products
How is the product distributed?
This product can be distributed by brokers or delegated authority.
Does the product demonstrate fair value?
The outcome of the Fair Value Assessment (FVA) conducted in accordance with Zurich's published FVA methodology confirms that the product provides fair value. All products listed have all passed the Fair Value Assessment and are valid until 31/08/2026.