This session examines how increased defence spending by European governments is set to drive a new wave of construction activity, creating both opportunity and complexity for construction contractor and developer risk managers. In response to heightened geopolitical risk and NATO capability commitments, major investment is expected in countries such as Germany, Poland, the UK, France and the Nordics, funding projects that range from military bases, logistics hubs, ports, airfields and ammunition facilities to cyber-secure data infrastructure, manufacturing plants and dual-use transport and energy assets. These programmes will be primarily state-funded but often delivered through public-private partnerships, defence primes and specialist contractors, introducing layered contractual and risk transfer structures.

From an insurance perspective, the session will explore emerging issues such as heightened security and terrorism exposures, classified or restricted sites, supply-chain concentration, workforce vetting, ESG and reputational considerations, and the challenge of insuring projects with both civilian and defence use. It will also highlight opportunities for risk managers to engage early with insurers and underwriters, structure programmes that address political risk and loss aggregation, and position their organisations to participate safely and competitively in a growing and strategically important construction pipeline.