The Construction Confederation (CC) has renewed calls for the greater use of project-based insurance in the UK construction industry.
A CC spokesman said the industry would benefit from "the wider use of project-based insurance".
"It reduces costs by removing overlapping cover and fosters a non-confrontational approach to resolving crises," the spokesman said.
It is common practice for each individual party involved in a project to arrange their own cover, but critics said this wasted time and resources.
Weightman Vizards construction partner Mike Grant said project-based insurance would result in large savings for UK contractors.
"[Project-based cover] avoids duplication in terms of cost and time by providing cover under the umbrella of one policy," said Grant.
Grant cited the BAA Heathrow Terminal 5 project as an example of the effective use of project-based insurance.
"The use of project-based insurance [on the Terminal 5 project] meant issues were dealt with swiftly," Grant said.
Grant added that the UK construction industry was warming to the idea of project-based cover.
"There are signs of greater cooperation and integration in relation to project teams."