Eyes wide open? Or eyes wide shut?
Join us for a three-part webinar series where Steve Higginson, Nick Lux, Giuseppe Carone and Georgina Haddad have nail biting discussions on risk management in construction projects; The Risk Matrix, what we consider pre-contract/pre-construction as well as during the construction phase.
The first concept, "Risky Business, or a Cruise down the highway?" – Managing the Risk Matrix – Construction Projects can be inherently risky – high costs with unpredictable variables including material costs, on-the-job discoveries, insolvencies and lest we forget…Covid. The discussion gets off to a start with Nick, Giuseppe and Georgie talking us through a typical construction project, parties and stakeholders interests, risk issues involved with a highlighting focus on Emerging Risks in this space. How are these risks assessed and managed?
The second concept, "Know the Rules of Engagement" – What to consider pre contract and pre-construction. Do we know really know and understand what a contract includes? What should we watch out for? Who are we contracting with? Does your novation deed introduce added levels of risk and/or offend your insurance policy? Have you contracted out proportionate liability? The questions go on…and on…discussions heat up as some of our concerns are addressed and explained. The complexity that surrounds the purchasing multiplicity of policies one needs to contemplate through the whole process of design and construction becomes evidentially clear!
And lastly, the third in this three-part series, "Mind the Gap" – Make sure you are properly covered! Generally speaking, with respect to issues that arise during the construction phase, the task is to identify (1) the nature of the loss and (2) the cause of it – it goes without saying that this will largely determine what policy responds. Are we prepared and what happens when it comes time to handover? The speakers cover these points in detail, making sure there are no holes in your risk strategy. What are your layers of defence?
The webinars were hosted by Stephen Higginson, Head of Customer & Distribution for Australia and New Zealand at Swiss Re Corporate Solutions, who was joined by specialists and experts:
- Nick Lux – Partner, Wotton + Kearney
- Giuseppe Carone – Senior Underwriter FinPro, Swiss Re Corporate Solutions
- Georgina Haddad – Claims Expert, Swiss Re Corporate Solutions
You can watch the recordings here: