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Construction Insurance, Contracts, Mitigating Risk & Related Issues - Workshop Capital Planning, Design and Construction November 4, 2008 Introduction and Agenda Panelists What is Construction Risk Management Key Components Contract Relationships Property Preservation Insurance
Capital Planning, Design and Construction
November 4, 2008
ACE USA Inland Marine
Any information or discussion arising from this presentation shall not prejudice, waive or otherwise forestall any legal right of ACE USA Inland Marine, ACE USA or any of The ACE Group of Companies concerning the terms, conditions, exclusions or provisions contained in an issued policy of insurance. The information or materials provided herein shall not amend or alter in any way the terms, conditions, exclusions and limitations of any policy delivered. Please consult the policy for exact terms and conditions. The materials and information contained herein are not intended to offer or provide any legal advice concerning the topics covered.
2. Require field supervisory personnel to evaluate property related exposures and monitor protection requirements.
3. Involve all parties (design, construction, operations) in planning process.
4. Confirm subcontractor management controls and require pre-installation reviews for critical equipment/materials.
5. Implement severe weather monitoring program and formal notification procedures with emergency response plans.
6. Identify weather sensitive equipment, materials and finishes during pre-construction planning and progress meetings with contractors. Monitor compliance with vendor/manufacturer required storage/warranty requirements.
7. Develop and implement contingency plans for delays in material delivery or schedule changes that impact contractor work completion and expose work in progress to damage.
8. Evaluate security and access controls to project sites. Fire Protection and Emergency Response Plans.
9. Focus on ‘elimination’ of property loss exposures. If not practical to eliminate exposures, implement and document ‘control’ of exposures.
10. Conduct periodic property preservation assessments (similar to safety assessments) of project site. Monitor property preservation controls at subcontract interfaces, project boundaries & temporary facilities/structures.
Construction & Erection
Associated Hazards – Evaluate exposures and controls in assessment categories. Include future exposures that are anticipated as project progresses through completion.
1. Transit - Evaluate transit exposure and controls that are in place or required.
2. Storage - Review storage of materials associated with the project on and off the site. Exposure and controls to be implemented.
3. Security - Evaluate site access controls and theft and vandalism potential.
4. Fire Protection - Review adequacy of fire protection that is provided on the site.
5. Rigging and Lifting / Equipment Exposures - Evaluate rigging and lifting exposures and other equipment related exposures that exist on the project and controls to be implemented.
6. Collapse - Monitor collapse exposures that may exist on the site and adequacy of controls; e.g.: support of excavation, formwork/shoring, temporary bracing of structural members.
7. Adjacent Hazards – Evaluate adjacent exposures and required controls.
8. Water Hazards – Evaluate water damage exposures that may exist on the site. Work in progress or materials exposed to damage from water.
9. Flood - Review flood exposure to the project site and adequacy of control of surface runoff or underground utilities. Action plans to minimize damage and control flooding.
10. Severe Weather Exposures - Review controls to protect stored materials and work in progress from elements.
Building envelope exposures
Design & construction complexity
Building systems exposures
Craftsmanship & quality assurance
Construction coordination & project interfaces
Project delivery systems
Economic effects of losses