Australia’s construction boom isn’t just creating buildings – it’s creating a talent crunch. With billions in infrastructure projects underway, new contractual complexities, and fresh regulatory demands, professional indemnity (PI) expertise has become one of the hottest commodities in the broking market.
Australia’s PI market for construction is worth hundreds of millions of dollars in annual premiums and growing quickly. A construction boom – supercharged by record government infrastructure spending – is driving this expansion and fuelling demand for PI expertise, particularly among brokers.
“From what we’re seeing in the market, there has been an increase in demand for PI specialists,” said Nathan Anning (pictured above left), director of Impact Talent AU. Anning said there is “definitely” a noticeable uptick compared to the last 12-24 months. He estimated that PI roles currently account for up to 15% of broker vacancies.
“The trend line is definitely upwards and brokerages are increasingly conscious of needing depth in that space,” he said, noting Queensland as a hotspot for demand.
The major brokerages – Aon, Marsh and Gallagher – are heavily invested in PI, while Steadfast Group participates through its brokers and ownership of MECON Insurance. State-based master builders’ groups also provide PI services. On the insurer side, Chubb, Allianz and Berkeley Insurance Australia control significant market shares.
Some of this growth is linked to Brisbane hosting the 2032 Olympic and Paralympic Games. The Queensland government has flagged billions in new stadium, entertainment and housing projects. Nationally, the scale is even greater: Infrastructure Partnerships Australia reports government spending of more than $270 billion across the next four years.
“We are definitely seeing an increase in demand for construction-related broking expertise — particularly in respect to professional indemnity policies — on major infrastructure projects,” said Peter Jeeves (pictured above centre), head of construction for Lockton Companies Australia.
Jeeves added that the surge is not simply about more projects, but also about how they are being delivered.
“Whilst the fundamental principles of these models have arguably not changed, in recent years they have definitely become more nuanced and sophisticated,” he said. “As a result, the understanding of insurable risks and available insurance solutions for major infrastructure projects has become more complex.”
He noted that the pool of Australian brokers and insurance specialists with the skills to handle these complexities is “relatively small.”
Regulatory reform is another driver. Nick Vernon, CEO of Scope Underwriting, highlighted coming changes in New South Wales.
“One thing I think will move the dial is the changing legislation in NSW in 2026 regarding building practitioners requiring PI insurance,” he said.
Legal specialists also report rising demand for PI-related services. Clyde & Co told Insurance Business that “in particular the complexities around project-specific professional indemnity insurance policies are growing, and with the Brisbane Olympics on the horizon there is no sign that this will slow down.”
Matthew Smith (pictured above right), a partner with Clyde & Co specialising in engineering and construction claims, said government investment over the last decade is now feeding through into disputes.
“We are seeing a large number of claims involving contractors and construction professionals which cover multiple disciplines and require a specialised understanding of the engineering disciplines which are the subject of claims,” he said.
Smith added that the scale of these disputes – and the data involved – is a “significant factor” in the growing demand for PI expertise.
Are you a broker specialising in PI and involved in the construction sector? Are you seeing increasing demand for your services? Please give us your take on the uptick below.
