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Construction Insurance - Contractor Controlled vs Owner Controlled

8th May 2019 10:00 – 13:00

QBE offices

This seminar will focus on the differences between an owner-controlled insurance programme/policy (OCIP) and a contractor-controlled insurance programme/policy (CCIP) for construction projects. We will particularly cover the problems a CCIP could cause the employer in certain circumstances and when an OCIP is needed to protect business interruption exposures. This is particularly topical as the Contractors All Risk Market is hardening rapidly and terms and conditions that could previously be obtained may now be more challenging.

Seminar Agenda - Draft

  1. Introduction - The Construction and Engineering Market.
    • Large market losses in the UK & globally.
    • Water damage losses in the UK - impact of the issue for insurers
    • Changing market conditions relative to the UK property developments and other major construction projects
  2. OCIP vs CCIP
    • Requirements to insure under contract
      • JCT forms and clauses
      • NEC forms and clauses
      • Developing contract types - collaborative multi-discipline teams
      • All party OCIP programmes what covers are available
      • Annual contractors' programmes - what is the employer's residual risk under JCT
  3. Managing risk on construction sites, what best practice do insurers look for
    • The contract & design stages
    • On site risk mitigation
      • Flood
      • Fire
      • Water Damage
      • Defects

Learning objectives:

  1. To understand the changing Construction All Risks market and the impact this could have on contract conditions that contractors may accept.
  2. To understand the differences between different types of programmes that could cover a construction project and the need to align with the construction contract.
  3. To recognise the key risk management elements of a construction contract and what underwriters will consider when assessing a project risk profile.

Learning outcome:Following the academy attendees should better understand the market dynamics that could influence both the contractor and underwriter's risk appetite. They should also be able to understand that employer's financial risk will need to be considered when deciding on an OCIP or CCIP for a large project.

Speakers:Andy Kane, Portfolio Manager, Construction, QBETom Clapton, Senior Risk Manager, QBEBarry Jackson, Senior Claims AdjusterLawyer TBA

1 place available
Add to Calendar 2019-05-08 10:00:00 2019-05-08 13:00:00 Europe/London Airmic academy: Construction Insurance - Contractor Controlled vs Owner Controlled This seminar will focus on the differences between an owner-controlled insurance programme/policy (OCIP) and a contractor-controlled insurance programme/policy (CCIP) for construction projects.
See more: https://www.airmic.com/training/construction-insurance-contractor-controlled-vs-owner-controlled
London
Location
QBE Insurance, Plantation Place, 30 Fenchurch Street
London, EC3M 3BD