Training course overview
Appreciating the practical aspects of this essential project contract requirement – often ignored during site work implementation.
Insurance is one the requirements spelt out in the project contract documents. If the FIDIC or most local Conditions of Contract documents are looked into, the specific clauses would spell out the need for insurance(s) to be arranged for the project, equipment and to protect against third party claims. Basically, indemnity has to be procured to protect the Employer or client.
There are various risk aspects involved in a project implementation - some of these issues can be identified and managed. Insurance is a risk transfer mechanism. Risk management can be used as a mode to reduce certain exposure(s) on a project site. This includes perils like flood, fire, explosion, landslide and even “design short-comings” or material defects.
Some basic principles of insurance will be addressed during this five-day training course. The training course leader will also share his own cases from his decades of industry involvement and also regional case studies to enable better understanding of this contractual subject matter.