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Construction: Consequential Loss / Advanced Loss of Profits

Willis Towers Watson is currently the adviser to 8 of the world's top 10 global construction companies, who manage some of the most complex projects across the globe.

Working closely with both contractors and owners insuring the cargo exposures on these projects, can involve highly significant shipped values (largest to date valued excess of USD 16 bn) and various types of projects from hotel complexes, airports to bridges and energy plants.

Delays resulting from loss or damage to critical equipment can delay a project 12 months or more, resulting in lost sales, missed markets, wasted opportunities and lost profits, all which can be insured by the cargo market.

Key issues in this sector include the longevity and often complex logistics of the projects. Sites are more frequently located in challenging locations and environments which may require the involvement of specialist transportation systems. With this in mind, along with the often complex nature of the cargo itself, we work closely with specialist project cargo surveyors to ensure that the risks faced are minimised.

Difficult geographies may also require a fresh approach to cover. As a consequence of these requirements we have created a solution named Cargo Undercover providing a one policy approach to cargo, war on land and political violence.

Cargo Contacts

Patrick Murphy

Global Head of Cargo

+1 212-915-8697

Further Cargo Contacts

Williswire Marine Blog

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