Construction specialist Mecon has more than doubled its construction capacity, underpinned by new underwriting arrangements.

The company, part of Underwriting Agencies of Australia, says capacity has increased to $120 million total sum insured for single projects under material damage and public liability policy sections. This is up from $50 million previously, and Mecon can write higher limits with referrals.

GM Kishan Dasan says the new capacity, which took effect from March 10, offers “greater flexibility and strong balance sheet security”.

The lead insurer is a Lloyd’s participant, with Mecon gaining coverholder status, and several local insurers are also supporting the increased capacity.

Mecon says it can insure simple or complex residential, commercial, civil and mechanical projects.