An Introduction to Construction Insurance

Introduction

Organisations operating in the construction and engineering industry have particular insurance needs for their projects. Some projects’ needs cut across the organisation, others are specific to a project, or a portfolio, others are true one-offs.

Identifying these insurance needs to satisfy an organisation’s contractual obligations (and corporate values) is complex, but essential. Many insurance problems (e.g. lack of cover) are only understood when things have gone wrong, which is precisely the time you want the comfort of knowing you’re covered.

In addition, major changes in commercial insurance legislation have shaken up the procurement of insurance and management of insurance claims.

This live broadcast session will address the key points to consider.

What You Will Learn

This live and interactive session will cover the following:

• What is insurance for the construction industry and what is its purpose?
• Refresher of legislative framework (Marine Insurance Act 1906 and Insurance Act 2015)
• Construction projects and risk: identifying insurance needs and complying with the duty of disclosure
• Analysing the contractual framework:
• Identifying needs within construction project contracts/structures
• Assessing risk gaps
• Covering off risk: insurance products available/recommended
• Claims management and resolution
• Common issues between insured and insurer
• Practical tips to maintain/support the project

Recording of live sessions: Soon after the Learn Live session has taken place you will be able to go back and access the recording - should you wish to revisit the material discussed.