Kennedys develops industry guide on risk management for construction projects

This guide was developed in collaboration with the Get it Right Initiative (GIRI). With thanks to Paul Lowe, Partner, Kennedys, Chloe Bingham, Senior Associate, Kennedys and Ann Dingemans, Corporate Affairs Lawyer, Kennedys.

A new guide to encourage further collaboration between the construction and insurance industries has been produced by Kennedys and by the Get It Right Initiative (GIRI). 

The guide addresses key considerations that influence how insurers assess the risk profile of a project from concept to end of life, and steps that can be taken to reduce these risks.

Bringing together the expertise of a wide range of construction insurance specialists, the guide is a detailed explainer of the specific risks that may arise, how insurers expect these to be managed, and the assistance and advice that project teams can call on them to provide.

Paul Lowe Square
One of our key ambitions with the Guide is to highlight how greater collaboration with insurers can help reduce the cost of error in construction. The Guide sets out some practical steps, which we hope will lead to a more effective construction sector.

The 20-page guide has six main chapters, five covering risks during specific stages in the RIBA plan of work, and a sixth focusing on environmental, social and corporate governance. Written in non-technical language and with a helpful glossary, it is aimed at de-mystifying risk management, types of cover and the claims process for those in construction who may only come into contact with insurers when something goes wrong.

Serving the industry as a good-practice guide to risk management throughout the life of a construction project, the guide has received positive response from the industry since its release in October 2023.

The guide has also received endorsement from the International Underwriting Association.