PROTECTION AGAINST LEGAL COST RISK
The construction industry is fraught with claims, disputes and high financial risks. Creation of a dispute is easy! It is the resolution that is time consuming and costly. CPS (Construction Protection Services) is aimed at minimising the financial consequences of the dispute situation, whether disputes are settled through mediation, arbitration or the courts.
WHO WILL IT COVER?
All parties who are involved in the contracting industry can be covered. A typical construction project is between the Employer, Main Contractor, Sub-Contractors and the whole range of material and service suppliers. Disputes can occur in any one of these contracts.
WHAT IS THE PROTECTION PACKAGE?
- A unique combination of consultancy and insurance aimed at minimising risk.
- Insurance cover for the costs of the employment of consultants and the legal team in pursuing or defending actions arising from contractual difficulties.
- Analysis of claims and/or disputes to identify resolution options.
- An on-line telephone advisory service.
- Minimising the cost impact if the dispute situation persists.
WHAT TYPES OF PROBLEMS ARE COVERED?
- Extensions of time
- Loss of productivity
- Performance & retention
- Defective workmanship
In fact, almost all disputes except those which fall under a PI policy.