Insuring Risk in Construction Projects
Construction projects are inherently risky in terms of cost, time and quality. Part of the risk is managed by insurance. This article identifies the types of insurance that are typically available on construction projects and focuses upon Contractors All Risks Insurance and Professional Indemnity Insurance only. Both are forms of liability policies. Some of the key issues that can arise in considering the scope of coverage and indemnity under each type of policy are highlighted and discussed.
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