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The insurance on a project should be the responsibility of the Project Owner rather than the Contractor. Team. Paul Cotteril Chief Operations Officer Trust Re Sabir Hussain Ansari, PMP, MBA, B.Tech Senior Manager - Project Controls

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Team

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  1. The insurance on a project should be the responsibility of the Project Owner rather than the Contractor

  2. Team • Paul Cotteril Chief Operations Officer Trust Re • Sabir Hussain Ansari, PMP, MBA, B.Tech Senior Manager - Project Controls Integral Services Co. WLL, Kuwait (ISCO) • Stephen Hart Director, RFIB

  3. The insurance on a project should be the responsibility of the Project Owner rather than the Contractor “ The Contractor shall be liable for and shall indemnify and hold the Company harmless against all claims, demands and actions made or brought against the Company in respect of injury to, illness, disease or death of any of the employees or hired personnel of the Contractor or its Subcontractors or loss or damage to the property of the Contractor, its Subcontractors or its or their employees and hired personnel and all compensation, damages, Costs, expenses, losses and liability whatsoever in connection therewith.. ”

  4. The insurance on a project should be the responsibility of the Project Owner rather than the Contractor “ The Contractor shall be liable for and shall indemnify and hold the Company harmless against all claims, demands, and actions made or brought against the Company in respect of injury to, illness, disease, or death to any third Party or loss or damage to third Party property resulting from the negligence or breach of the Contract by the Contractor and all compensation, damages, Costs, expenses, losses and liability whatsoever in connection therewith…” ………and a few more such clauses

  5. The insurance on a project should be the responsibility of the Project Owner rather than the Contractor There is no debate on the importance of Risk Response Process nor on the route of INSURANCE as Risk Mitigation Approach. The point of discussion is : Who should take the responsibility of Insurance on a project : The Project Owner Or The Contractors & the Sub Contractors

  6. The insurance on a project should be the responsibility of the Project Owner rather than the Contractor Who should take the responsibility of Insurance on a project ? The Project Owner

  7. The insurance on a project should be the responsibility of the Project Owner rather than the Contractor Why am I arguing in favor of the above motion?

  8. The insurance on a project should be the responsibility of the Project Owner rather than the Contractor Why am I arguing in favor of the above motion? Improved Quality of Risk Management Processes

  9. The insurance on a project should be the responsibility of the Project Owner rather than the Contractor Why am I arguing in favor of the above motion? Streamlining Claims Management

  10. The insurance on a project should be the responsibility of the Project Owner rather than the Contractor Why am I arguing in favor of the above motion? Maintenance of Control over policy Terms & Conditions

  11. The insurance on a project should be the responsibility of the Project Owner rather than the Contractor Why am I arguing in favor of the above motion? Saves Time

  12. The insurance on a project should be the responsibility of the Project Owner rather than the Contractor Why am I arguing in favor of the above motion? Ability to obtain broader Insurance Coverage

  13. The insurance on a project should be the responsibility of the Project Owner rather than the Contractor Why am I arguing in favor of the above motion? Increasing wider range of competitive potential Contractors

  14. The insurance on a project should be the responsibility of the Project Owner rather than the Contractor Why am I arguing in favor of the above motion? Program Innovation

  15. The insurance on a project should be the responsibility of the Project Owner rather than the Contractor Why am I arguing in favor of the above motion? Insurer Stability

  16. The insurance on a project should be the responsibility of the Project Owner rather than the Contractor Why am I arguing in favor of the above motion? Reduction in Overall Insurance Cost on the Project

  17. The insurance on a project should be the responsibility of the Project Owner rather than the Contractor Why am I arguing in favor of the above motion? Allows for Easier Negotiation with Lenders

  18. The insurance on a project should be the responsibility of the Project Owner rather than the Contractor Why am I arguing in favor of the above motion? ‘Coz …….. • Improved Quality of Risk Management Processes • Streamlining Claims Management • Maintenance of Control over Policy Terms & Conditions • Saves Time • Ability to obtain broader Insurance Coverage • Increasing wider range of Competitive potential Contractors • Program Innovation • Insurer Stability • Reduction in Overall Insurance Cost on the Project • Allows for Easier Negotiation with Lenders

  19. From: Paul Cotteril SabirHussainAnsari Stephen Hart THANK YOU

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