fmb.org.uk
fmb.org.uk
FMB Insurance 2024 marked a significant point in our journey as we are now over halfway through our three year restructure plan for FMB Insurance. Throughout the year, our focus remained clear: to raise service standards and provide expert insurance advice that helps safeguard the businesses of FMB members.
an SME construction-specific Cyber Insurance policy, reflecting our commitment to ensuring members can access tailored, comprehensive protection suited to the specific needs of construction SMEs. Investing in the capability and professionalism of our team has been central to our approach. We’re proud that four team members are undertaking apprenticeships with the Chartered Insurance Institute (CII), and two have achieved their CII Diploma qualification.
2024. This initiative sets a higher standard of customer care and requires firms to focus on delivering good outcomes in four key areas: Products and Services, Price and Value, Consumer Understanding, and Consumer Support. In response, we have reviewed and enhanced our internal systems, introduced robust sta training, and established clear processes. These improvements are not just about compliance, they reflect our broader commitment to transparency, fairness, and delivering measurable value to our members. Looking ahead, FMB Insurance’s priorities are to continue expanding our product oering to meet the evolving needs of members, support the growth of the membership base through tailored insurance solutions, and drive commercial income to strengthen the Federation of Master Builders’ wider services.
We continued to strengthen our insurer panel, welcoming new partnerships with Tokio Marine HCC and Beazley. These additions enhance our already extensive oering in key areas such as Public Liability, Professional Indemnity, and Contract Works Insurance. Crucially, they have also enabled us to introduce new products including
These eorts help ensure that every FMB member speaks to a knowledgeable, specialist
broker who truly understands the construction industry. Over the course of 2024, the team have used their expertise to support over 1,500 annual policies, as well as servicing 7,500 homeowners with our Latent Defects Insurance and Building Work Guarantee products. A major priority this year was preparing for the introduction of the Financial Conduct Authority’s (FCA) Consumer Duty regulation, which came into eect on 31 July
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Federation of Master Builders Annual Report 2025
Federation of Master Builders Annual Report 2025
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