Insurance in EPC Contracts

Description

This Skill Bit shows, that in EPC contracts, consulting insurance professionals early aids in risk management. They identify project risks and suggest suitable insurance products. Coverage considerations include goods in transit, all risks, contractor’s equipment, public liability, workers’ compensation, vehicles, and property. The contract specifies the named insured, deductibles, limits, exclusions, and coverage requirements. It outlines notification and reporting procedures for incidents. Clarity on risk allocation and management prevents disputes and financial surprises throughout and after project completion.

Duration approx. 4 Min.

Tier: advanced