A collaborative approach to risk by contractors, brokers, owners and insurers has helped secure the long-term viability of tunnelling schemes around the world, said delegates — including engineers, lawyers, contractors and owners — at a recent seminar hosted by Jardine Lloyd Thompson, a London-based specialist broker and risk consultant.
“In the past 10 years tunnelling risks have been better analyzed and there is evidence that standards of risk management on tunnelling has improved,” said Darrell Corner, consultant, Jardine Lloyd Thompson. “The significant cooperation that has taken place between insurers, clients, engineers and brokers has assisted in ensuring the availability of insurance for these major projects. It’s been the continuity of the available insurance that has allowed many of the major infrastructure projects around the world to proceed,” he said.
Key conclusions from the seminar include:
— A collaborative approach that works towards a collective set of goals, is key to the success of future tunnelling schemes.
— Minimizing tunnelling risk doesn’t mean an increase in costs.
A newsletter is being produced to capture the key elements of the discussion and the event was recorded and will be available as a webcast. To register to receive the newsletter or to view the webcast when available, visit www.jltgroup.com/Risk-and-Insurance/Events/Tunnelling-Insurance-Event/.
Source: Jardine Lloyd Thompson
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