‘Defective part’ in WELCAR revisited

The defective parts clause of the WELCAR 2001 construction all-risks policy wording has a number of grey areas

This year marks the 25th anniversary of Wellington Syndicate’s offshore construction project policy wording, better known as “WELCAR 2001” — the seminal construction all — risks insurance policy form used in offshore construction projects, which has become the “go-to” for the insurance industry in the energy sector, particularly for the ‘old’ technologies of oil and gas.