Surveyors’ guide for all involved in construction projects
The Royal Institution of Chartered Surveyors (RICS) has launched a insurance guide to help builders, surveyors and sub-contractors on a construction site get correct cover.
Areas of cover include:
- Material damage
- Consequential losses
- Third party liabilities stretching far into the future
- Non-negligent liability. To complicate things further the responsibility for arranging the insurances will usually rest with several different parties.
- Environmental insurance
- Latent defects
Construction Insurance aims to help project management surveyors, quantity surveyors, building surveyors and all other property professional.
RICS President, Max Crofts said: "Insurance should be taken very seriously and we would stress the importance for its consideration early on in the procurement and construction process. As a general rule the earlier that decisions are made about insurance, the better it is. Expensive mistakes can be avoided; there is more time to find the best markets and less chance of duplicating covers or paying unnecessary premium. This guidance note is one of a series to be published in the next few months, covering various aspects of property and construction. It is a vital part of the RICS role in keeping members up to date with best practice."
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Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
