Specified perils in construction contracts - Revision history

Designing Buildings at 09:21, 24 January 2023

2023-01-24T09:21:02Z

← Older revision		Revision as of 09:21, 24 January 2023
Line 18:		Line 18:
	NB See also relevant events.		NB See also relevant events.

−	= ~~Find out more~~ =	+	= Related articles on Designing Buildings =

−	~~=== Related articles on Designing Buildings Wiki ===~~
−
−	* 3D animation for insurance risk analysis.
−	* Building Users' Insurance Against Latent Defects.
	* Contract works insurance.		* Contract works insurance.
	* Contractors' all-risk insurance.		* Contractors' all-risk insurance.
		+	* Defects.
	* Design liability.		* Design liability.
−	* Directors and officers insurance.
	* Excepted risk.		* Excepted risk.
	* Flood insurance.		* Flood insurance.
		+	* Hazard.
	* Insurance.		* Insurance.
	* Joint names policy.		* Joint names policy.
	* Latent defects insurance.		* Latent defects insurance.
	* Legal indemnities.		* Legal indemnities.
−	* ~~Off-site materials~~.	+	* Peril.
	* Professional Indemnity Insurance.		* Professional Indemnity Insurance.
−	* ~~Residual value insurance~~.	+	* Risk.

	[[Category:DCN_Definition]] [[Category:DCN_Guidance]] [[Category:Contracts_/_payment]]		[[Category:DCN_Definition]] [[Category:DCN_Guidance]] [[Category:Contracts_/_payment]]

Designing Buildings at 09:02, 16 September 2020

2020-09-16T09:02:40Z

← Older revision		Revision as of 09:02, 16 September 2020
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	* Residual value insurance.		* Residual value insurance.

−	[[Category:Contracts_/_payment]]	+	[[Category:DCN_Definition]] [[Category:DCN_Guidance]] [[Category:Contracts_/_payment]]

Editor at 13:58, 29 January 2016

2016-01-29T13:58:11Z

← Older revision		Revision as of 13:58, 29 January 2016
Line 28:		Line 28:
	* Design liability.		* Design liability.
	* Directors and officers insurance.		* Directors and officers insurance.
		+	* Excepted risk.
	* Flood insurance.		* Flood insurance.
	* Insurance.		* Insurance.

Editor at 10:58, 28 January 2016

2016-01-28T10:58:23Z

← Older revision		Revision as of 10:58, 28 January 2016
Line 1:		Line 1:
−
	Construction works involve large amounts of money and are at high risk of damage. As a consequence construction contracts will generally include an obligation to insure:		Construction works involve large amounts of money and are at high risk of damage. As a consequence construction contracts will generally include an obligation to insure:
−	*The works.	+
−	*On-site materials or goods.	+	* The works.
−	*Off-site materials or goods.	+	* On-site materials or goods.
−	*Existing structures and their contents.	+	* Off-site materials or goods.
		+	* Existing structures and their contents.

	This insurance may cover all risks, or may be restricted to certain ‘specified perils.’		This insurance may cover all risks, or may be restricted to certain ‘specified perils.’
Line 21:		Line 21:

	=== Related articles on Designing Buildings Wiki ===		=== Related articles on Designing Buildings Wiki ===
−	*3D animation for insurance risk analysis.	+
−	*Building Users' Insurance Against Latent Defects.	+	* 3D animation for insurance risk analysis.
−	*Contract works insurance.	+	* Building Users' Insurance Against Latent Defects.
−	*Contractors' all-risk insurance.	+	* Contract works insurance.
−	*Design liability.	+	* Contractors' all-risk insurance.
−	*Directors and officers insurance.	+	* Design liability.
−	*Flood insurance.	+	* Directors and officers insurance.
−	*Insurance.	+	* Flood insurance.
−	*Latent defects insurance.	+	* Insurance.
−	*Legal indemnities.	+	* Joint names policy.
−	*Off-site materials.	+	* Latent defects insurance.
−	*Professional Indemnity Insurance.	+	* Legal indemnities.
−	*Residual value insurance.	+	* Off-site materials.
		+	* Professional Indemnity Insurance.
		+	* Residual value insurance.

	[[Category:Contracts_/_payment]]		[[Category:Contracts_/_payment]]

Designing Buildings: moved Specified perils to Specified perils in construction contracts

2014-08-14T06:22:45Z

moved Specified perils to Specified perils in construction contracts

← Older revision

Revision as of 06:22, 14 August 2014

Designing Buildings at 10:26, 17 October 2013

2013-10-17T10:26:08Z

← Older revision		Revision as of 10:26, 17 October 2013
Line 15:		Line 15:

	Joint-names insurance will generally prevent claims against the co-insured party for an insured loss. Whether or not claims can be made by one party against the other for uninsured losses where one of the parties is at fault will depend on whether the contract permits this or not.		Joint-names insurance will generally prevent claims against the co-insured party for an insured loss. Whether or not claims can be made by one party against the other for uninsured losses where one of the parties is at fault will depend on whether the contract permits this or not.
		+
		+	NB See also relevant events.

	= Find out more =		= Find out more =

Designing Buildings at 13:42, 7 October 2013

2013-10-07T13:42:52Z

← Older revision		Revision as of 13:42, 7 October 2013
Line 1:		Line 1:

−	Construction ~~projects~~ involve large amounts of money and are at high risk of damage. As a consequence construction contracts will generally include an obligation to insure:	+	Construction works involve large amounts of money and are at high risk of damage. As a consequence construction contracts will generally include an obligation to insure:
	*The works.		*The works.
−	*On site materials or goods.	+	*On-site materials or goods.
	*Off-site materials or goods.		*Off-site materials or goods.
	*Existing structures and their contents.		*Existing structures and their contents.

−	This insurance may cover all risks, or may be restricted to ‘specified perils.’	+	This insurance may cover all risks, or may be restricted to certain ‘specified perils.’

−	Specified perils tend to be significant events that would cause very significant damage, such as fire, explosions, earthquakes, flooding and so on. All risks insurance will tend to cover a broader range of risks, albeit it may not cover every possible risk~~. For example existing structures might be insured against specified perils whilst the construction works might be insured against all risks~~.	+	Specified perils tend to be significant events that would cause very significant damage, such as fire, explosions, earthquakes, flooding and so on. All-risks insurance will tend to cover a broader range of risks, albeit it may not cover every possible risk.

−	Policies may be taken out by the contractor or by the client depending on the contract~~, or~~ the options selected, and may be for all risks, specified perils, or a combination for different parts of the cover.	+	Policies may be taken out by the contractor or by the client depending on the form of contract and the options selected, and may be for all risks, specified perils, or a combination for different parts of the cover. For example existing structures might be insured against specified perils whilst the construction works might be insured against all risks.

−	Insurance will generally be in the form of a ‘joint names policy’ in the ~~joint~~ names of the contractor and the client. This gives both parties their own rights to claim against the insurer. Other parties, such as funders, may also be added as a joint name.	+	Insurance will generally be in the form of a ‘joint names policy’ in the names of the contractor and the client. This gives both parties their own rights to claim against the insurer. Other parties, such as funders may also be added as a joint name.

−	Joint-names insurance will generally prevent claims against the co-insured party for an insured loss. Whether or not claims can be made by one party against the other for uninsured losses where one of the parties is at fault will depend on whether the contract ~~specifically excludes~~ this or not.	+	Joint-names insurance will generally prevent claims against the co-insured party for an insured loss. Whether or not claims can be made by one party against the other for uninsured losses where one of the parties is at fault will depend on whether the contract permits this or not.

	= Find out more =		= Find out more =

	=== Related articles on Designing Buildings Wiki ===		=== Related articles on Designing Buildings Wiki ===
−	*3D animation for insurance risk analysis.	+	*3D animation for insurance risk analysis.
−	*Building Users' Insurance Against Latent Defects.	+	*Building Users' Insurance Against Latent Defects.
−	*Contract works insurance.	+	*Contract works insurance.
−	*Contractors' all-risk insurance.	+	*Contractors' all-risk insurance.
−	*Design liability.	+	*Design liability.
−	*Directors and officers insurance.	+	*Directors and officers insurance.
−	*Flood insurance.	+	*Flood insurance.
	*Insurance.		*Insurance.
−	*Latent defects insurance.	+	*Latent defects insurance.
−	*Legal indemnities.	+	*Legal indemnities.
	*Off-site materials.		*Off-site materials.
−	*Professional Indemnity Insurance.	+	*Professional Indemnity Insurance.
	*Residual value insurance.		*Residual value insurance.

	[[Category:Contracts_/_payment]]		[[Category:Contracts_/_payment]]

Designing Buildings: Created page with " Construction projects involve large amounts of money and are at high risk of damage. As a consequence construction contracts will generally include an obligation to insure: *The..."

2013-10-07T13:37:46Z

Created page with " Construction projects involve large amounts of money and are at high risk of damage. As a consequence construction contracts will generally include an obligation to insure: *The..."

New page

Construction projects involve large amounts of money and are at high risk of damage. As a consequence construction contracts will generally include an obligation to insure:
*The works.
*On site materials or goods.
*Off-site materials or goods.
*Existing structures and their contents.

This insurance may cover all risks, or may be restricted to ‘specified perils.’

Specified perils tend to be significant events that would cause very significant damage, such as fire, explosions, earthquakes, flooding and so on. All risks insurance will tend to cover a broader range of risks, albeit it may not cover every possible risk. For example existing structures might be insured against specified perils whilst the construction works might be insured against all risks.

Policies may be taken out by the contractor or by the client depending on the contract, or the options selected, and may be for all risks, specified perils, or a combination for different parts of the cover.

Insurance will generally be in the form of a ‘joint names policy’ in the joint names of the contractor and the client. This gives both parties their own rights to claim against the insurer. Other parties, such as funders, may also be added as a joint name.

Joint-names insurance will generally prevent claims against the co-insured party for an insured loss. Whether or not claims can be made by one party against the other for uninsured losses where one of the parties is at fault will depend on whether the contract specifically excludes this or not.

= Find out more =

=== Related articles on Designing Buildings Wiki ===
*3D animation for insurance risk analysis.
*Building Users' Insurance Against Latent Defects.
*Contract works insurance.
*Contractors' all-risk insurance.
*Design liability.
*Directors and officers insurance.
*Flood insurance.
*Insurance.
*Latent defects insurance.
*Legal indemnities.
*Off-site materials.
*Professional Indemnity Insurance.
*Residual value insurance.

[[Category:Contracts_/_payment]]