RISK MANAGEMENT 101 – INSURANCE AS A RISK TRANSFER MECHANISM

Date: 20 Mar 2020
Time: 09:00 AM ~ 05:30 PM
Venue: SISV Office, Training Room 110 Middle Road, #09-00 Chiat Hong Building, Singapore 188968


Event Synopsis

Insurance is one the requirements spelt out in the project contract documents. If the P.S.C.O.C or S.I.A document are considered, the clauses would spell out the need for insurance(s) to be arranged for the project, equipment and to protect against third party claims. Basically, indemnity has to be procured to protect the Employer or client.

There are various risk aspects involved in a project and some of these issues can be identified and managed. Insurance is a risk  transfer mechanism. Risk management can be used as a mode to reduce certain exposure(s) on site.

Some basic principles of insurance will be addressed during this one-day course. 

The Course Leader will share some of the more his own cases/ incidents to enable better understanding of this subject matter.