Where we add value
C-Risk provides risk management solutions to project owners to reduce the cost of risk
C-Risk provides pragmatic risk management advice on how to reduce the probability of loss on capital construction projects. We assess project risks and exposures to determine the most effective ways to guard against unpredictable events that could negatively impact performance and profitability on construction projects, and with the evaluation of construction wrap-up insurance programs. Having a competent risk management advisor on your project management team that fully understands construction and its numerous risk dynamics is not an option. It’s a necessity!
C-Risk provides client-focused risk management strategies and practical advice on how to structure risk management programs to mitigate the numerous types of risks and exposures inherent on construction projects. C-Risk can assist with either redesigning existing insurance and risk management programs to eliminate coverage gaps or remove excess coverages that may be unnecessary.
With the proliferation of design-build as a project delivery method, as well as design delegation through contractual risk-transfer, and with the use of wrap-up insurance programs as a construction risk financing approach, there have been an increasing number of cases where project owners and contractors have sustained significant losses as a result of gaps in coverage, wrap-up program structure deficiencies, or project maladministration. Having an independent review of a project owner’s insurance policies and/or wrap-up insurance program structure can greatly reduce the potential for any insurance coverage gaps before they could create an uninsured loss, and the susceptibility of construction contract or insurance claims.
C-Risk can stringently review and evaluate all risks and exposures. Particularly those risks and exposures that are directly associated with a site-specific construction project or on a multi-phased real estate development program. This ensures that the most appropriate contract terms and conditions, insurance policies and endorsements, and risk financing mechanisms are in place. And, verifying that insurance coverages and limits are adequate in order to address the project owner’s specific operational and organizational risks and exposures.
As an independent risk management consulting company, C-Risk can potentially drive down the cost of risk to make a positive impact on a project’s bottom line. In addition to our construction expertise, we have negotiation skills and can act as a liaison in the insurance selection and procurement process in order to obtain optimum coverage while striving to reduce premium costs. When requested, C-Risk can assist with negotiating more favorable terms for insurance pricing, broader coverage, or higher limits to obtain coverage at a more reasonable premium.
The key benefit that C-Risk provides is our construction industry knowledge, practical construction project experience, and the ability to create innovative and viable risk management solutions. This is a core competency of C-Risk and where C-Risk adds real value in the structuring of effective insurance, risk financing, and risk management programs.