Project Insurance
Managing risks is crucial to the success of a project. One possible risk management strategy is to transfer risks to one or more third parties, such as insurance companies. However, the procurement of insurance for tunnel construction projects is sometimes difficult, the role of insurers is rather passive and the available products are outdated. If projects are realized with partnership-based contract models such as Integrated Project Delivery (IPD), a more active role for project insurers could become
possible in the future, and new, innovative insurance solutions could become available.
1 Introduction
After describing the basics of risk management [1], the integral consideration of cost, time and risks [2] and risk mitigation [3] in the previous publications in this series of articles, this part deals with the possible option of transferring risk to third parties, such as insurance companies. The early and active involvement of the project insurer in the concept of Integrated Project Delivery (IPD) could in future simplify the procurement of the necessary insurance, improve insurance conditions and facilitate the availability of innovative insurance solutions for tunnel...
