Navigating Risks in Construction: Your Ultimate Guide
Discover essential strategies to manage risks and secure the right insurance for your construction business.
Why Risk Management is Crucial for Your Success
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Navigating the Complexities of Risk Management and Insurance in Construction
Court confirms builders can’t delegate their duty of care for building code compliance
In a recent case the Court of Appeal found that builders who assume responsibility for construction are, like Councils and developers, generally subject to a legal duty to ensure compliance with the Building Code, even if they have delegated the work to subcontractors. The Building Act already makes this clear for residential building work and builders can’t contract out of it.
Don’t pay more than you have to – what is “betterment”?
A builder is not legally liable for “betterment,” but is only liable for the actual value of the property they have damaged. In legal terms, property damage claims are governed by the principle of indemnity. The goal is to put the injured party back into the exact financial position they were in right before the damage occurred, no better and no worse.
Common gaps in public liability insurance coverage for construction contractors
For building contractors, public liability insurance is often seen as the ultimate safety net. It’s intended to protect you from the cost of accidentally damaging other people’s property. However, most liability policies contain exclusions that can leave contractors financially exposed in some circumstances. Understanding these critical gaps allows the contractor to be hyper-aware of the risk and implement other risk mitigation practices, so that the lack of insurance coverage never becomes an issue.
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