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Vol 23 No 5 May/June 2018

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Drafting Commercial Agreements

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Risk and Insurance in Construction 2nd ed

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ISBN13: 9780419213802
ISBN: 0419213805
Published: March 2005
Publisher: Taylor & Francis
Country of Publication: UK
Format: Hardback
Price: £190.00

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Those involved in construction have to cope with so much learning in their own discipline that they shun further involvement in subjects such as insurance and law which in themselves are so deeply and intensely complex. However, insurance and law are interwoven in the basic procedures used in the construction industry for undertaking work, be they design, construction, supervision or operation, or any combination of them.

Furthermore, they both interact with the theory of risk and the application of risk management. From the legal point, the interaction with risk emanates from the very purpose of the construction contract, which is to allocate the risks between the parties to which the project is exposed. From an insurance aspect, risk forms the basis of insurability and premium calculation. Insurance costs have escalated to become a major cost factor in any branch of the construction industry. Such escalation makes it essential for decisions-makers to have a thorough understanding of the risks, liabilities and indemnities which play an important role in forming the appropriate relationship between those involved.

This thoroughly revised edition of Nael Bunni's successful book, formerly called Insurance in Construction, provides information on risk, construction law and construction insurance for those involved with all aspects of construction. The chapters on risk have been expanded to include recent developments in the area and provide further examples of events which could occur on what can be viewed as the most risky human work activity, namely construction.

New chapters are also added to deal with the insurance clauses of the many new standard forms of contract published in recent years, including FIDIC's new suite of contracts published in September 1999, ICE's 7th edition of the civil engineering standard form of contract, and ICE's 2nd edition of the design/build form

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Construction Law
Preface. Foreward. Acknowledgements. Interaction between construction, insurance and law. Glimpse through history. Interaction between insurance and law. Construction contracts. Construction and the law. Development of insurance clauses. Construction and society. Hazards and Risks. Instincts -v- reasoned decisions. Modern society and awareness of hazards. A hazard or a risk? Analysis of hazards. Risk assessment. Risk management. Hazards in construction. Identification and classification of risks in construction. Envisaged risks - the spectrum. Allocation of risks. Risks inherent in major projects. Assessment of risks in construction. The spectrum of risks in construction. Classification based on chronology. The spectrum of risks in construction: risks associated with the feasibility stage; risks during construction associated with the site of the project and its location; risks associated with the post-construction stage. Responsibility and liability in construction. Logic. Allocation of risk and responsibilty. Definitions. Responsibility in construction. Liability emanating through construction. Developments in the laws of liability. Levels of Liability. Liable or not? developments in contract law: duty of care in design; fitness for purpose; selection of site staff; supervision. Developments in contract law - contractors duties. Liable or not? developments in the law of torts: date of accrual; economic loss. Future developments. Indemnity and insurance. Indemnity. Indemnity through law. Indemnity through contract. Insurance as a contract of indemnity. Construction insurance. Characteristics of the construction contract. Definition of the word 'accident'. The insurability of risks. Uninsurable risks. Insurance policies required in construction. Property insurance. Liability insurance. Non-negligence insurance. Decennial insurance. Overlaps and gaps. Bonds and guarantees. The insurance scene. Structure of the insurance market. The broker. The insurer. The reinsurer. Premium calculations. Documentation. The insurers departmentation. The insurance clauses of the F.I.D.I.C agreements within the construction trinity. The insurance clauses of the FIDIC agreement between owner and contractor. Alternative one - the current clauses modified. Clause 20 - Care of works and excepted risks. Clause 21 - Insurance of the works, etc. Clause 22 - Damage to persons and property - indemnity. Clause 23 and 24 - Third party insurance - injury to workmen. Clause 25 - remedy on contractors failure to insure. Clause 65 - special risks. The insurance clauses redrafted. Notes on proposed model clauses: construction risks, allocation and responsibility; responsibility for care of the works and passing of risks; responsibility for damage or loss to the works, before the risks transfer date; liability and indemnity for personal injury to third party and property damage other than the works; liability