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.
By attending this Coventry Academy training course delegates will be able to make a substantial, positive impact on the Asset Management best practices within their organization, more specifically:
This training course is suitable for a wide range of professionals who are involved in any aspect of Construction Risk and Insurance and who want to understand, implement and improve the latest Contractors All Risks / Erection All Risks Project Insurance Project Insurance concepts, processes and ideas.
For example, Senior executives, Engineers and Managers from the following industries: