On 14 June 2017, the 24-storey, Grenfell Tower, broke out in flames, causing millions of pounds of damage and widespread social unrest. Seven months later Carillion plunged into liquidation after suffering financial difficulty. These two case studies demonstrate just how complex construction risk has become.
In this special report we uncover the pitfalls in managing construction risks and demystify the global insurance implications.
As a company, Carillion did practically everything wrong, yet its sudden demise has sent shockwaves through the business community. As regulators trawls through thousands of documents with a view to taking disciplinary action, the inevitable result is an intense scrutiny of directors and officers liability and transparency
Tougher codes and penalties are putting pressure on the building industry’s insurance cover, while raising questions over how far down the line liability should go
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