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Insights on Global Risk Management in Construction: FIDIC Beijing 2005 Forum Highlights

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This report summarizes the key discussions from the FIDIC Risk Management Forum held in Beijing in 2005, focusing on global risk issues in construction. It covers essential topics such as insuring partnering teams, common claim examples, dispute resolution processes, and the current state of the Professional Indemnity (PI) market worldwide. Contributions from various experts highlight concerns in countries including South Africa, Australia, New Zealand, and the United Kingdom, addressing trends in claims, occupational safety regulations, and the impact of reputation on liability.

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Insights on Global Risk Management in Construction: FIDIC Beijing 2005 Forum Highlights

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  1. FIDICBeijing 2005Report of the risk management forumStephen BamforthChairman FIDIC Risk Management Forum

  2. Synopsis • Global Issues • Insuring the partnering team • Some claims examples • Dispute resolution • State of the PI Market

  3. Global Issues– South Africa Gary Rabie Glenrand MIB

  4. South Africa • Current contractual state of affairs Various standard forms Lack of Agreement • Scheme Claim Trends Site investigation – 8% Gross Negligence – 10% Supervision – 16% Admitted errors – 20% Insufficient Experience – 46%

  5. South Africa • Scheme Loss Ratios 1997 – 233% 2000 – 139% 2003 – 55% 2004 – 31% 2005 – 11%

  6. South Africa • Other Developments Occupational Health & Safety Act – Construction Regulations Degree of Uncertainty Trench Collapses & Other Failures Lack of Prosecutions

  7. Global Issues- Australia Therese Charles ACEA Proportional Liability Limits of Liability

  8. Global Issues- New Zealand Stephen Jenkins ACENZ

  9. Global Issues– United Kingdom Nora Fung ACE

  10. Insuring the Partnering Team • A definition of partnering? • Long term alliancing • Partnering charters • Holistic partnering • Conclusion

  11. Claims Ewan MacGregor Griffiths & Armour

  12. Claims Traditional Procurement Design and Build Partnering Un-insured Risks

  13. Traditional Procurement Employer Led Design • Calculation Accuracy - 112o681 112,681 112.681 • Back to basics Rubbish in, Rubbish out

  14. “common sense is not that common”

  15. Design and Build Contractor Led Design • Quality of PII • Contractors profit from building, clients from use • Variations

  16. Partnering • Integrated Team Working • Allocating Liability

  17. Uninsured Risks “What is most at risk is a firm’s reputation – and there is no way that you can insure against that” The Times 3rd May 2005

  18. Final Thought It’s the alternative that creates the liability

  19. Dispute Resolution Keith Lonsdale

  20. State of the PI Market • The cycle continues! • New capital, lower prices • Will it end in tears?

  21. Long Term PI Trends

  22. FIDICBeijing 2005Report of the risk management forumStephen BamforthChairman FIDIC Risk Management Forum

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