Matthew Needham-Laing, Head of Construction & Engineering at Stevens & Bolton LLP uncovers what employers and consultants need to know when it comes to ‘All risk’ insurance clauses contained in JCT contracts.
The ‘all risk’ insurance clauses contained in the Joint Contracts Tribunal suite of contracts are, in my experience, the least understood by the employers who enter into these contracts or the consultants who administer them.
Consequently, the JCT insurance options A, B or C are routinely selected (but rarely amended) without the parties really understanding what each clause means.
The JCT guidance note on the ‘all risk’ insurance provisions strongly recommends the parties seek professional insurance advice before entering into the contract, for good reason; the interpretation of insurance policies is a specialist field and disputes on the meaning of policy wording are frequent.
Click here to read the full article which was published via Construction News.