TEAM INSURANCE for partnering projects looks likelyfollowing lengthy negotiations between Movement for Innovation and leading construction insurer Griffiths & Armour.
M4I chief executive Alan Crane told the 'Achieving Best Value through rethinking construction' conference this week that M4I had been negotiating for a year over insurance on partnering projects.
Crane said: 'Complete team insurance would cover the cracks and the overlaps and should be cheaper for everyone. Experience in Europe has shown that this kind of insurance avoids waste in the duplication of inspection teams.'
Partner in the construction division at lawyer Berrymans Lace Mawer Diana Holtham welcomed the move. 'You can get project insurance at the moment but this excludes the professionals. I hope this new scheme includes the contractors,' she said.