Construction Insurance (December 1999)

The construction industry represents over 10 per cent of the UK''s GDP. Projects vary from the simplest house to the most complex petrochemical plant, from deep tunnels to sky scrapers, from wind farms to sea jetties and from petrol stations to power stations.

For those handling these projects significant risk and insurance questions arise as the project grows from earthworks and foundations to completed structure. There are contractual and other legal issues, physical exposures and varying aspects of workmanship and design constantly needing answers. Complex, high risk, commissioning procedures may be needed giving rise to further issues each needing a different insurance response.

Handling the insurance requirements of construction projects is a specialist area needing particular knowledge and particular skills.

A team of these specialists from all sides of the construction insurance process, including underwriters and brokers, loss adjusters and engineers, lawyers and risk consultants have come together to produce the definitive guide to the subject.

The result is the latest Insurance Institute of London Research Study report, which is the most authoritative work available on the subject. The report considers risks on every type of project, together with their allocation between the parties under the main contract forms and the underwriting process. The intricacies of contract works insurance are explained, as are construction related public liability issues and the complexity of arranging cover and handling losses in respect of delay in project completion.

This comprehensive work is invaluable both for those new to the subject seeking guidance on key issues, and as a work of reference for the experienced practitioner. The exceptionally low price of the report is to encourage insurance education, particularly for our younger members.

Please be advised:
The Insurance Institute of London and those individuals who give lectures and/or produce papers under its auspices are mindful of the need for such material to be complete and accurate as the occasion requires and permits. However, such material is not represented to be a full and authoritative statement of the law or practice relating to any of the issues covered and no liability for any error or omission or for any opinion expressed will be accepted by the speaker or writer, their employer or the Institute.

If you are a contributing author to this publication, to obtain a more advantageous discount, please contact Susan Phillip - susan.phillip@cii.co.uk