Modern Methods of Construction
The impact of offsite and modular construction on CAR policy wording
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Modular and off-site construction present a great opportunity for the insurance industry to support sustainable construction through tailored coverage. The recent increase in these modern construction methods creates a natural reflection point for insurers to look at the risk landscape with fresh eyes.
This paper examines modular and off-site construction, its associated risk profiles and the types of losses that may be seen under Contractors All Risks (CAR) coverage. It also explores ideas and considerations for creating more robust policies.
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