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Project Specific Owner Coordinated Programs

A project-specific, owner coordinated insurance program is a policy protecting the interests of all parties involved in a construction project with a single panel of insurers.

The result is that:

  • All parties; i.e., owners, financiers, contractors, subcontractors, consultants and suppliers are insured and voids in cover and disputes and claims between the parties are avoided
  • Consolidation produces premium savings
  • Wider cover is achieved
  • Claims are managed to ensure delays or interruption to the project are minimized. It is possible to remove the boundaries of the individual coverage classes and adopt a multiline approach that is non-cancellable by insurers and may encompass:
    • Construction/Erection “All Risks”
    • Third-Party Liability
    • Consequential Loss (both Delay in Start Up and Business Interruption)
    • Property Damage
    • Marine Cargo & Marine Cargo Delay in Start Up
    • Contingent Employers and Motor Liability

At Willis we specialize in tailor-made project-specific, coordinated insurance programs to meet all the risk transfer requirements of a project from the pre-construction phase until completion and beyond.

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Willis In History

Did you know Willis was the construction broker for the Hong Kong Airport at Chek Lap Kok, one of the world's largest reclamation operations of its time where the surrounding waters were filled in to form a new man-made island?