Construction Insurance and UK Construction Contracts

Page 92


Classes of insurance contract

Classes of insurance contract

5.1 It is not a particularly profound observation that construction and engineering projects involve a wide range of risks for all those involved and for third parties not directly or voluntarily involved. Those risks include the risks of physical injury, loss and damage and their financial consequences and economic losses unassociated with physical injury, loss and damage, such as loss of profits by reasons of delay in completion of a project, or simple miscalculation as to the likely costs of a project or the availability of the market for the completed project.

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