Posts Tagged ‘Construction’



December 24th, 2018

The Dangers Lurking in the Union between Construction and Emerging Tech

Posted at 1:00 AM ET

adrian_pellan_hsAdrian Pellen, Infrastructure Segment Leader, U.S. and Canada Construction Practice at Marsh

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Technology startups geared toward the construction industry are booming. Contractors are adopting wearable tech to prevent and mitigate worker injuries and using 3D printing technologies for building components. The industry has seen a proliferation of building information modeling to foster digital collaboration between architects, engineers and contractors.

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April 25th, 2018

Building for Resilience: How to Avoid a Catastrophe Model Failure: Part III

Posted at 1:00 AM ET

Imelda Powers, Global Chief Catastrophe Modeler

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If resources permit, an insurer may carry out additional, micro level model suitability analyses - including a review of model hazards and vulnerabilities using the latest scientific literature and engineering studies. Guy Carpenter’s Model Suitability Analysis (MSA)® framework is designed to guide users through such an analysis.

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June 18th, 2015

Parametric CAT Derivatives to “Build Back Better”

Posted at 1:00 AM ET

franco_guillermo_bioGuillermo Franco, Head of Catastrophe Risk Research - EMEA

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Destruction caused by catastrophes often unfolds due to inadequate construction practices or land use planning. The likely response to these events is to strive to “build back better,” in part by addressing the mistakes of the past. Unfortunately, communities that embrace this challenge often find that they lack the financial resources for it and ambitious reconstruction projects lose momentum.

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March 17th, 2015

Parametric CAT Derivatives to “Build Back Better”

Posted at 1:00 AM ET

franco_guillermo_bioGuillermo Franco, Head of Catastrophe Risk Research - EMEA

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Destruction caused by catastrophes often unfolds due to inadequate construction practices or land use planning. The likely response to these events is to strive to “build back better,” in part by addressing the mistakes of the past. Unfortunately, communities that embrace this challenge often find that they lack the financial resources for it and ambitious reconstruction projects lose momentum.

Continue reading…

February 21st, 2012

January 2012 Reinsurance Renewal: Construction & All-Risk Engineering

Posted at 1:00 AM ET

Engineering reinsurance pricing was flat at the January 1, 2012, reinsurance renewal - for general treaty, catastrophe excess of loss and per risk. For loss-affected programs, the losses realized drove pricing changes.

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June 1st, 2010

Continental European Legislative and Judicial Trends: Developments in French Compulsory Construction Works Insurance: Amendment of Standard Clauses

Posted at 12:00 PM ET

2010_legislative_thumb-2David Lewin, Managing Director
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In France, construction operations are subject to tight regulations that provide for strict liability under Article 1792 ff. of the Civil Code. Under the Loi Spinetta of 1978, they are also subject to two types of compulsory insurance coverage: insurance of the construction contractor’s decennial liability (assurance de la responsabilité décennale du constructeur) and insurance of damage to the construction works (assurance des dommages à l’ouvrage). The scope of the compulsory coverage is specifically described in standard clauses that have been fixed through Ministerial Order (Arrêté). Article L. 243-8 of the French Insurance Code clearly states that any insurance policy acquired to fulfil compulsory construction insurance is expected to provide guarantees that are at least equal to coverage under the standard clauses. Any wording in a policy that does not comply with the standard clauses and is less favorable to the insured, is presumed to be invalid by the courts.

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March 8th, 2010

Construction & Engineering Renewals at 1/1

Posted at 12:00 PM ET

Simon Hayes, Managing Director
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The 2008-2009 global financial crisis had a significant impact on insurers in the engineering and construction sector. Many large and small Contractors All Risk (CAR)/Erection All Risk (EAR) single projects around the world were either cancelled or suspended due to lack of available financing. These developments have caused insurers’ income from construction projects to shrink. Insurers see a need to expand into other classes, such as annuals, power and breakdown.

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