SBN Insurance Institute

Insurance is one the requirements stated in the project contract documents. If the JCT or FIDIC documents are considered, the clauses would spell out the need for insurance(s) to be arranged for the project, equipment and to protect against third party claims. Basically, indemnity has to be procured to protect the Employer or client. There are various risk aspects involved in a project and some of these issues can be identified and managed. Insurance is a risk transfer mechanism. The CAR/ EAR policy is often arranged for projects but its application and coverage understanding appears vague. The basic principles of insurance and the application of the CAR/ EAR policies will be addressed during this event. A new cover for completed infrastructure works -like highways, bridges, and ports – referred to as the Civil Engineering Completed Risks (CECR) will also be introduced in this interactive session.

During this webinar we will be discussing key areas such as: 1. The Principles of Technology 2. Risk Management - Green Energy Initiatives 3. Power Purchase Agreements (PPA) 4. Green Energy exposures to Contractors All Risks (CAR) & Erection All Risks (EAR) Insurance Policies and more.

The webinar was presented by A M Best to share with the insuring community what key factors are considered in the rating of insurance companies.

Provide relevant, comparable information about insurance contract profit and risk across different insurers and jurisdictions Reflect economic substance through current measurement rather than historical cost Separate underwriting performance from financial market effects for clearer analysis