The SCL organized the “Introduction to Construction / Engineering Insurance” Seminar which was well received by members and guests of the Society. The seminar was delivered by Mr. Choy Wing Kwong, Regional Director of JLT Solutions Asia Pte Ltd, an associated company of the Jardine Matheson Group and a market leader in insurance broking and reinsurance in Asia.
The event was well attended by 37 members and guests who were introduced to wide ranging and unique issues relating to insurance in the construction and engineering industry. The talk explained the design obligations in building contracts, insurance covers available for faulty designs, professional indemnity insurances, the types of insurance covering construction risks and certain insurance terminology used by the insurance industry. Mr. Choy shared with the audience some of the typical exceptions that one could find in some of the common policies as well as how insurance companies may price their policies and set deductibles for insurance policies. Despite the breadth of the information shared, Mr. Choy’s rapid fired delivery was concise and well-delivered, packing comprehensive information into the allocated one hour.