Construction Insurance - An Essential Update for Advisers

Introduction

This webinar tackles construction-related insurance from both procuring and claims angles, and provides key points on market position plus the latest case law.

The Insurance Act 2015 has, since August 2016, been the primary piece of legislation for procuring insurance and managing claims. It fundamentally changed the status quo of the prior century, when the first piece of legislation came into force (Marine Act 1906) and the informal practices existing before then. Practitioners and the industry have been implementing its changes and some case law emerges as a result.

Balancing uncertainty and risk has always been at the heart of insurance; with special focus on the construction and engineering industry, there are particular opportunities and threats, as projects come in all shapes and sizes. The common thread is that each has a unique risk profile and so insurance must be tailored accordingly and underwriting cover is getting ever more sophisticated.

What You Will Learn

This webinar will cover the following:

• Insurance and its purpose:
• Pre-Marine Insurance Act
• Marine Insurance Act
• What does the Insurance Act 2015 do?
• Perceptions and actualities
• The duty of disclosure
• The picture so far: emergent case law and lessons
• Where do construction contracts fit in?
• Types of insurance for projects
• What are the key market trends for 2024 and beyond?
• What the industry should look out for and pay attention to
• How should claims be managed?
• Working with insurers to resolve
• Remedies available
• Take Aways

This webinar was recorded on 20th June 2024

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