{"id":132851,"date":"2023-09-27T08:00:25","date_gmt":"2023-09-27T07:00:25","guid":{"rendered":"https:\/\/www.pbctoday.co.uk\/news\/?p=132851"},"modified":"2023-09-27T08:05:12","modified_gmt":"2023-09-27T07:05:12","slug":"insurers-risk-management-advice-highlighted-new-giri-guide","status":"publish","type":"post","link":"https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/insurers-risk-management-advice-highlighted-new-giri-guide\/132851\/","title":{"rendered":"Insurers\u2019 risk management advice highlighted in new GIRI guide"},"content":{"rendered":"

A new GIRI guide, aimed at bringing the construction and insurance industries together, has highlighted insurers\u2019 risk management advice to help reduce the cost of error in construction<\/h2>\n

Launched by the Get It Right Initiative (GIRI)<\/a>, the publication is intended to be used as a good practice guide to insurers\u2019 risk management<\/a> throughout the life of a construction project.<\/p>\n

The GIRI guide outlines the considerations that influence how insurers assess the risk profile of a project from concept to end of life. It then sets out the steps that can be taken to reduce these risks.<\/p>\n

Why was the GIRI guide created?<\/h3>\n

Created by Kennedys partner Paul Lowe, a member of the Get It Right Initiative\u2019s strategic leadership group, the GIRI insurance guide intends to boost collaboration between the insurance and construction sectors.<\/p>\n

The publication provides construction insurers<\/a> with risk management guidance, explaining the specific risks that may arise, how insurers expect these to be managed, and the assistance the project teams can call on them to provide.<\/p>\n

Lowe explained: \u201cOne of our key ambitions with the guide is to highlight how greater collaboration with insurers can help reduce the cost of error in construction.<\/p>\n

\u201cThe guide sets out some practical steps, which we hope will lead to a more effective construction sector.\u201d<\/p>\n

The publication of the guide offers a sense check enabling construction companies to gain an understanding of the impact of their actions, processes, and behaviours on the risk profile of a project.<\/p>\n

It comes at a crucial time when the number of insurers offering cover to construction companies<\/a> is critically low.<\/p>\n

About the new guide<\/h3>\n

The 20-page GIRI guide has six main chapters \u2013 five covering risks during specific stages in the RIBA plan of work and the sixth focusing on environmental, social, and corporate governance.<\/p>\n

Aimed at de-mystifying insurers\u2019 risk management, cover, and claims in the construction sector, the guide is written in non-technical language and with a helpful glossary.<\/p>\n

The GIRI guide has been endorsed by the International Underwriting Association and can be downloaded for free from the GIRI website<\/a>.<\/strong><\/p>\n

\n<\/div>","protected":false},"excerpt":{"rendered":"

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