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CHAPTER 23 Is conventional insurance for construction projects fit for purpose?

Contracts for Construction and Engineering Projects


Page 301

CHAPTER 23

Is conventional insurance for construction projects fit for purpose?

Is conventional insurance for construction projects fit for purpose?

1

23.1 Introduction

Large construction projects generally involve significant complexity in their procurement – in their technical challenges, and in the interaction and interfaces between the different organisations involved in design and construction. These issues (and others) are manifest in the inherent risks of construction, which range from the physical challenges of the site and the prevailing environment, the technical and organisational challenges of each party involved in design and construction completing their work to the required quality in the specified time, to completion of the works for the specified cost. The rights and obligations between the parties involved in design and construction are regulated by contracts that assign liability if the risk events occur.

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