'Integrated project insurance: the claim stops here' - Insurance Day
- Date: 09/05/2016
Integrated project insurance promises an end to the time-consuming and costly practise of passing risk down the supply chain in the building industry.
A problem in a construction project can turn the unexpected into a nightmare. In most cases, the question immediately turns on “whose fault is it?” and “who is responsible?” The contractor is likely to blame the architect, claiming a design defect on the basis of submitting incomplete drawings. The architect may reverse the blame on to the contractor, accusing them of not having control over their subcontractors. The contractor may think it is the professional consultant’s responsibility for failing to supervise the works and suppliers properly. The consultant could argue the employer was late on the payment of fees. It can go on and on. So whose insurance policy should fit the bill?
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