While construction projects may seem quite simple at the construction site itself, many risks and liabilities acquired under contracts pose a wide range of additional risks which must be addressed in a sensible manner. In recent years there has been an increasing trend towards design and construct projects…sometimes where the design aspect has been performed by someone outside the control of the builder, but the risks associated with this design work is novated to the builder.
Apart from the obvious challenges of damage to the works or construction plant and liability for injury or damage, there are other issues, which must be addressed, such as
Professional Indemnity issues
Delay in completion
WorkCover attempts to recover their costs
We have worked heavily with the construction industry for many years and in fact some of our team have previously worked for builders, so we know how to analyse the exposures and tailor insurance programs.