Brain Food: Risk Management & Insurance in Construction - Mitigation, Policies, Indemnification & Documentation

In the dynamic and often unpredictable world of construction, managing risks effectively is essential to safeguarding project success and financial stability. This session provides a comprehensive exploration of risk management and insurance strategies specifically tailored for construction professionals. Participants will learn how to identify common risks on the job site and implement proactive mitigation measures, gain a deep understanding of various insurance policies available for construction projects, and explore the nuances of indemnification as a protective tool. Emphasis will also be placed on the importance of meticulous documentation to support claims and reinforce risk management practices. Owners, construction project managers, contract managers, and procurement professionals will acquire practical insights to fortify their projects against unforeseen challenges.

Learning Objectives:

1. Recognize the prevalent risks in construction projects, including operational, financial, and safety-related challenges
2. Gain a clear understanding of the different insurance policies relevant to the construction industry (e.g., general liability, professional indemnity, builder's risk, etc.)
3. Analyze the role of indemnification clauses in contracts and how they protect stakeholders from unforeseen liabilities
4. Understand why thorough documentation is critical in supporting risk management efforts and insurance claims

Applying for 1 AIA LU