Commercial The owner can tailor the policy to cover all appropriate parties, as opposed to several potentially disjointed arrangements Adaptable to changes in the project, such as increased values and extensions of the period Non-cancellable policy for the duration of...
Owners and developers often overlook the importance of taking a strategic approach to project insurance. We are often asked why companies would depart from the tried and tested approach of letting the contractor insure the project works – after all, the contractor...
Taking a PCIP approach enables the owner to: Arrange delay in start-up (DSU) insurance to provide an indemnity for lost revenue arising from a delay caused by insurable damage. DSU insurance is only available to the party arranging the CW insurance. Obtain finance for...
There are three core classes of insurance that form a PCIP: Contract Works This policy is designed to cover physical loss or damage to the contract works. If there is insured damage (e.g., a fire), this policy is designed to indemnify the insured for the cost of...