oa Civil Engineering = Siviele Ingenieurswese - Insurance can go seriously wrong
|Article Title||Insurance can go seriously wrong|
|© Publisher:||South African Institution Of Civil Engineering (SAICE)|
|Journal||Civil Engineering = Siviele Ingenieurswese|
|Publication Date||Feb 1956|
|Keyword(s)||Construction project, Contracts and Insurance|
In the case of a construction project that involves more than one contractor, the quality of insurance for contracts works can be seriously undermined by insuring each facet of the contract separately, says M.I.B. Risk Managers. M.I.B.'s John Politt says there can be gaps in insurance arrangements if one allows each contractor to insure each facet of a contract - such as earthworks, buildings, mechanical works and so on - separately, as each contractor would negotiate his own cover to protect his own risk, leading inevitably to a built-in additional cost to the owner/developer.
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