GineersNow Construction Leaders Magazine June 2017 Issue 003, Bechtel

On top of that, each project is different and
dedicated covers are available case by case:
covering the plant and equipment on site, the
existing property of the principal, delay in startup
consecutive to a loss, specific interests of
lenders and financing parties, project cargo for
parts being transported on the construction
site, temporary storage, or even the workmen
compensation needed by the employer. At
AXA, we offer a construction package, which
covers and protects the needs of the relevant
stakeholders, identified for each contract with the
project team.
It is also worth focusing on ‘Delay in Start-Up’,
also referred to as Advanced Loss of Profit
(ALOP). In essence, the ALOP element covers
clients against lost revenue following a physical
loss under a construction policy. This financial
security, although it is an optional cover which
comes with a certain cost, is viewed as a very
strong security, in particular by financing parties.
Proactive Risk Management: the Insurer
by the engineers’ side to advise and help
prevent incidents
Most insurance companies now provide risk
engineering advice on best practices in health
and safety on site, adherence to engineering
standards, and/or compliance with applicable
standards and regulations related to the
protection of construction sites.
Risk engineers can provide auditing and
testing of project risk management as well as
support customers who require an independent
organization to oversee contractors from a risk
management perspective.
This can range from a small house building
contract to some of the largest and most complex
construction and engineering projects across the
globe.
Risk engineers are highly specialised in
construction projects, and have generally been
involved within the construction industry with
experience in all aspects of Construction Risk
Management.
Risk management services provide support and
advice at every stage of a building’s life cycle. It
can support those involved from the conception
stage of a construction project and throughout
its occupation and can play a key role in the risk
management of the project.
Unlike other insurers, we at AXA do not
outsource our risk management services. We
have approximately 160 specialist risk engineers
located worldwide and carry out all risk survey
site inspections including power plants, industrial
building as well as high rise residential building.
Focus on Health and Safety
The construction industry can be a dangerous
place to work, creating many health and safety
challenges. This is why we think it is essential to
work with a dedicated risk management team
who have the expertise to advise on the best
ways to mitigate risk during the construction
process and beyond as the building is occupied.
AXA Risk Engineers can provide:
• The skills in-house to provide support during
the initial discussion with the design team
• Surveys for contract works, whether it’s a oneoff
project, a large phased construction project
or a PFI contract
• Experts who can give advice on problematic
aspects of any building
• Visits to site to suit customer requirements
during the building phase as the site changes
and the risks evolve
• Third Party audits against Joint Code of
Practice requirements
• Advice on Modern Methods of Construction
(MMC) and BREEAM (the leading design and
assessment method for sustainable buildings).
Methods of construction may be new to
certain clients, but there’s every chance that
we have experience of that method and can
give appropriate advice
• Advise on security if we know that a site will
become vulnerable. We work with our partners
to provide specialist temporary high-security
steel screens, alarm systems and round-theclock
monitoring with an emergency call-out
service.