Construction bond bombshell as major player quits market

Business insurance giant QBE Europe is pulling-out of the construction bonds market for major contractors.
QBE is a major player in the surety bonds market and the move will be a massive blow to main contractors already struggling to get cover.
One contractor said: “QBE are a key provider in the construction market so this will be a significant issue for contractors.”Performance bonds guarantee a contractor’s obligations under the contract and protect against insolvency, reduci