Course

[06 May 26] Mastering Construction All Risks Insurance: Contract Requirements to Claims Management

OVERVIEW   

Procurement of insurance is one the contract requirements spelt out in the project contract documents like Public Sector Standard Conditions of Contract (PS COC), Singapore Institute of Architects (SIA) or International Federation of Consulting Engineers (FIDIC) wordings. There are specific clauses that describe the need for insurance(s) to be arranged for the project, equipment and to protect against third party claims.

The trainer, who is also an Engineer, will share real-world case studies, underwriters' considerations and application of policy clauses/endorsements to enable securing the best coverage from the Contractor's All Risks (CAR) insurance.Interactive training methods and engagement will be used by the Facilitator to enlighten this subject which is often mis-understood by project personnel.

TOPICS COVERED

• Explore the coverage provided by insurance cover
• Who is a Third Party from the policy perspective
• Discuss to appreciate precautions to take on-site
• Highlight policy conditions, exclusions and endorsements
• Share a few case studies relating to insurance coverage
• Claims notification and steps to take when there is a loss occurring on site

LEARNING OUTCOMES

• Evaluate insurance coverage requirements and adequacy for their development projects
• Understand underwriter perspectives and risk assessment criteria that impact premium costs and coverage terms
• Implement effective risk management strategies to minimize on-site exposures and potential claims
• Understand key CAR policy clauses and endorsements to optimize coverage for their projects
• Identify policy trigger points and ensure proper activation of coverage when incidents occur

TARGET AUDIENCES

• Development Teams: Site Engineers, Quantity Surveyors, Project Managers, Land Surveyors and other personnel from property developers and main contractors
• Design Professionals: Project Architects and Consultants (Civil & Structural, Mechanical & Electrical)
• Project Stakeholders: Legal advisors, local authority representatives, statutory body officials, and banking/financial institution personnel involved in development projects

CPD POINTS

3 CPD Points: BOA-SIA

KNOWLEDGE PARTNER

Pooba Mahalingam, Regional Risk Consultant, Talent Asia Training & Consulting

Pooba is a Regional Risk Consultant based in Singapore with three decades of practical experience in risk/ insurance covering three main areas – Property, Engineering and Construction. Pooba is a professional engineer and operates under “Talent Asia Training & Consulting” of Singapore. He is specialized in the insurance space with special focus on engineering/ property insurance and risk management aspects.  Pooba has provided Expert Evidence in a few technical disputes in four jurisdictions namely Singapore, Malaysia, Sri Lanka and Brunei Darussalam. He served as the President of the Insurance Law Association of Singapore (ILAS) for three terms. (2017-2020).

Pooba is a regular lecturer/ trainer with BCA, SCAL, IES, REDAS, SISV & the Singapore College of Insurance (SCI) and the Asian Insurance Institute (Aii).  He is also the Author of a Aii publication entitled, “Engineering Insurance.”  Besides training, Pooba also undertakes property risk surveys and provides insurance related consultancy services to various clients in Singapore, Kuala Lumpur and in the following regions: Asia, Middle East & Africa.

Terms & Conditions

Request for withdrawal must be made in writing. We encourage particpants to nominate a replacement for the session. Refund requests are subject to approval on the following conditions: 

• Requests sent in at least 2 weeks before commencement: 50% of course fee refunded.
• Requests sent in less than 2 weeks before commencement: No refund, full course fee payable.

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