Construction Insurance - Introduction - Searchlight Insurance Training

Construction Insurance – Introduction

This one day interactive workshop provides an introduction to Contract Works, Contractors All Risks and Contractors Liability Insurance. It is suitable for those who are relatively new to the subject.

Whilst no previous Contract Works experience is required a good grounding in the basics of Commercial Property and Liability insurance should still be regarded as a pre-requisite.

Level: Introduction

Duration: 1 day(s) CII CPD Hours: 6
     

WORKSHOP OBJECTIVES

• show an awareness of Contract Works Insurance and the various ways Insurers provide the cover

• demonstrate an awareness of the content of the insurance clauses within the JCT contract and an understanding of the difference between contractual obligations and insurance requirements

• show an awareness of the standard structure, and content of Contract Works and Contractors Liability Insurance policies and the optional extras usually available

• demonstrate an awareness of the underwriting process and the information insurers require to assess and price risks

WORKSHOP CONTENT

• Subject Matter
– Need for separate insurance
– Risks/Property insured
– Ways cover can be arranged
– Parties and terminology

• Contract Conditions
– Parties involved
– JCT Standard Form of Contract
– Contractual obligation
– Insurance requirements
– Contract works, liability, plant

• Policy Cover – Contract Works
– Usual Cover
– Exclusions and extensions
– Common alternatives

• Liability Policy Cover
– Usual Cover
– Exclusions and extensions

• Construction Design and Management Regulations 2015

• Placing and rating risks
– Key Insurer information requirements
– Underwriting features
– Risk management
– Contract works pricing