As negotiations unfold, the composition of your negotiation team can significantly influence outcomes. A well-rounded team, blending legal acumen, industry insights, and negotiation savvy, forms the backbone of successful negotiation efforts. Effective negotiation is a…
The engineering industry deals with complex projects, requiring specialized insurance solutions. The London Engineering Group (LEG) Insurance Rules offer a standardized approach to this need. What are LEG Rules? Developed by the London insurance market,…
In construction contracts, encountering the term “USM damage cap” might raise questions. This post clarifies the concept and corrects a common misconception. USM Explained (Incorrect Definition): The text defines USM as “unlimited supply of materials.”…
Construction and engineering projects are susceptible to delays that can cause significant financial strain. Delay in Start-Up (DSU) insurance acts as a safety net, mitigating these risks. What is DSU Insurance? Imagine a project’s operational…
Construction projects and machinery are significant investments. Protecting them requires specialized insurance. This blog post explores CAR and MB insurance, focusing on a key concept – USM damage caps. CAR and MB Insurance: Protecting Your…
Construction and industrial projects rely heavily on equipment and machinery. Protecting these assets requires specialized insurance solutions. Let’s explore Engineering All Risks (EAR) and Machinery Breakdown (MB) insurance and a key element – London Market…
Construction projects involve a multitude of risks. Understanding the differences between EAR (Erection All Risk) insurance and third-party liability insurance is crucial for effective risk management. EAR protects the insured’s own property (equipment and materials)…
Construction projects involve the installation of expensive equipment and machinery. Erection All Risk (EAR) insurance acts as a safety net, protecting contractors and builders from financial burdens if this equipment gets damaged during the installation…
Entering an EPC (Engineering, Procurement, and Construction) contract involves mitigating risks throughout the project lifecycle. Construction All Risk (CAR) insurance plays a crucial role in safeguarding both the project and the customer’s financial well-being. What…
