Focus on claims events in latest workshop9 Sep 20
Storms, floods and defective design are the three most common loss events for insurers of road construction projects, delegates attending this week's joint GIRI/Zurich 'insurance insight' webinar heard. The online knowledge-sharing event was convened with the intention of shining a light on the claims procedure, examining the main risks in the industry, and giving an insight into good practice that can help minimise losses from such events.
While storm damage is the most common event giving rise to claims, such claims are relatively low cost, explained Zurich senior construction risk engineer Robert Innes. By contrast claims due to fatality may be rare, but they incur the highest cost.
The presentation considered measures companies could implement to mitigate damage caused by such events - in the case of storms, for example, this could include ensuring a severe weather management plan is in place, considering how access routes might be affected, ensuring plant and equipment is not stored in susceptible locations, and minimising the amount of earthworks exposed at any one time.
The next webinar in November will focus on damage caused by hot works - visit the event listing for more details.