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CHAPTER 15 Property insurance (under higher tier property documents)

Construction Insurance and UK Construction Contracts

Page 242 CHAPTER 15 Property insurance (under higher tier property documents) General 15.1 Above the relationship between client and its builder/contractor and design team are the relationships that allow the development projects to be commissioned and funded. The general contractual relationship between a developer, a funding institution, a tenant and the developer’s design team and main contractor can be seen diagramatically in Appendix 3 . Although this diagram may initially seem complicated, the relationships reflect normal “day-to-day” contractual relationships between the main players, and in reality they only reflect the network of contractual duties and liabilities owed in a typical UK building project, involving a funding institution, typically a bank or consortium of banks, or pension fund, insurance fund, equity fund, a property developer, and a tenant or tenants.

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