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Construction Insurance - 1999

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Insurance Institute of London (IIL) Research Study report, is an authoritative work on this subject. The intricacies of contract works insurance is explained, as are construction related public liability issues and the complexity of arranging cover and handling losses in respect of delay in project completion.

Authors: IIL Research Study Group 208B

ISBN: 090049378X

Published Date: IIL,  1999

Binding Format: Soft cover

Handling the insurance requirements of construction projects is a specialist area needing particular knowledge and particular skills. Construction projects vary from the simplest house to the most complex petrochemical plant. 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.

A team of 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 on this subject.

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.

Note: In late 2012 a short supplement to this original Study Report report was produced to reflect changes in the perception of certain risks and the insurance response to these risks.   

Those interested in this publication and its supplement may also find the following IIL publications of interest:

  • Insuring Industrial and Process Machinery, published 2000
  • Insurance of Revenue for Projects under Construction, published 2003
  • Insuring Privately Financed Projects, published 2009

 

The Insurance Institute of London (IIL), by far the largest in the UK, was established in 1907 and today has over 17,500 members. IIL's objective is to raise professional knowledge of those working in insurance and assist them in their career development through a combination of lectures, an annual journal and facilitation of Research Study Groups (RSG). RSG's are formed to research specialised areas of insurance. They are lead and their members are drawn from those with acknowledged expertise in the particular areas being researched. The comprehensive reports subsequently produced and published are highly regarded and well received both in London and around the insurance world.


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