Construction contracts are crucial for any project as they protect all parties involved in the process and guarantee the client will receive the final product in most circumstances. However, insurance contracts are often overlooked throughout this process due to an eagerness to begin work.
Finding the right construction insurance is vital for any construction project. The construction industry is one that comes with an immense amount of risk, to both the physical project and to human life. Insurance can cover a wide range of factors within the project and ensures there is minimal financial loss for the contractor.
It is also important for those responsible for managing contracts to understand how insurance claims works, and the process for handling a claim. Each insurance company will have their personal methods of proceeding, and the contractor will need to be fully capable of navigating that process to protect themselves and their project. Knowledge of limits of liability and risk transfer clauses such as CAR and EAR are essential.
This course is designed for anyone with the responsibility of managing construction insurance contracts, or those involved with the contract process. It would be most beneficial for:
This course uses a variety of adult learning styles to aid full understanding and comprehension. Participants will review genuine examples of construction contracts to highlight key features relating to insurance, potential risks and clauses that relate to them.
Participants will partake in a range of activities including presentations, video material, discussions and role-playing activities to provide a full understanding of the taught content. To enhance their new knowledge and practical skills, participants will work together on various case studies on construction site scenarios to achieve an ideal insurance outcome for the parties involved.