GIRI Insurance Guide
Risk management provides protection against loss, damage and liability at every stage of construction. In doing so, it is key to reducing errors in construction, keeping premiums low and improving profitability.
Insurers play an integral role in advising on risk management within construction. This guide brings together advice from experts in the insurance industry on how the sector can help those involved to manage risk throughout the life-cycle of a building project: from concept design and procurement through to end of life.
Hence the document has broad relevance to all those working in the construction industry as it offers guidance to all parties on how to reduce error and risk throughout a project.
The document also touches on the growing importance of sustainability in the construction industry and the part insurers can play in facilitating the creation of a sustainable building. With around 40% of the UK’s carbon emissions coming from the built environment, construction can have a bigger impact than almost any other industry. However, the sector cannot make the changes necessary without insurers’ advice on risk management.
Innovation coupled with regulation will help provide long-term solutions to the issues raised in the guide. The risks arising from these themes are discussed, along with advice on how to manage them.Back