The article examines how regional geopolitical instability is exposing gaps between construction contract relief mechanisms and insurance cover. It explains that force majeure or similar contractual provisions may offer time or cost relief, while war exclusions in construction-related insurance policies can still leave losses uninsured.
Gallagher reports that professional indemnity insurance premiums for well-performing contractors and consultants have fallen by 15% to 20% year on year, reflecting improved insurer capacity and more competitive market conditions. The report says underwriting remains selective for certain technical exposures, including structural integrity risks and supply chain resilience.
HS2 Ltd has renegotiated its main civils contracts with the Align and EKFB joint ventures as part of a wider programme reset aimed at improving cost control and delivery performance. The revised arrangements change the payment structure, but financial details and the formal start date have not been disclosed, and talks with the remaining civils JVs are still ongoing.
