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30 April 2020
When materials, components or equipment fail to arrive on site, it can be a work-stopping event. Managing this scenario as a risk is a critical part of project risk management and even more important that contractors consider this under Alert Level 3.
Our construction insurance specialists have some practical tips for contractors on how to manage this risk.
As with all risk management, the first step is to quantify the potential issues.
We’ve even seen companies buy or take a significant stake in a critical materials supplier to ensure uninterrupted and preferential supply.
One of our core responsibilities as a broker is to ensure you have all the information you need to make informed decisions about the risks your business faces. With the effects of Covid-19 being felt in a number of ways by our clients across the country, we wanted to share some advice to help you protect your business during this difficult and unprecedented time.
Our construction team work with dozens of businesses and business leaders in construction including:
We specialise in assessing and protecting risk, and helping you to protect your bottom line from unexpected events.
If you have any questions or if you would like to speak to us about construction risk and insurance please talk to your broker.