Integrated Project Delivery & Insurance: Getting a Handle on the Risks & Unknowns Associated with Multiparty Contracts

This course is no longer active
Presented by Engineering News-Record, Sponsored by Sage Construction and Real Estate Solutions

Learning Objectives:

  1. %IDetermine the financial risks of IPD
  2. %IRecognize the potential liabilities of IPD
  3. %IUnderstand how to negotiate a multiparty contract
  4. %ICompare IPD insurance products

Credits:

AIA
1 AIA LU/Elective
Integrated project delivery (IPD), the latest shift toward collaborative design and construction in which the owner, architect and contractor share risk and reward under a single contract, is still not consistently defined, understood or practiced. But there is agreement that IPD contracts and behaviors can blur the lines between design and construction, raising serious questions about liability that have yet to be tested in the courts. Experts also agree that there is a disconnect between IPD and traditional insurance products. With IPD contracts, there are often waivers of liability or limits placed on liability (the building team's architect, contractor and owner generally promise not to sue each other or even point fingers). That can negate insurance products, which are underwritten and triggered on the basis of claims and fault. Insurers have been struggling for several years to develop products that cover the new risks associated with the no-fault environment of IPD's multiparty contracts. This webinar will feature a construction lawyer, risk manager and insurance expert, and will provide members of the building team with critical information about insurance issues and risk management in an IPD world. It will also explore emerging IPD insurance products.

 

Sage Construction and Real Estate Solutions No matter where your business fits into the building lifecycle ‑- new construction, service and maintenance, or property management – Sage offers a complete range of software solutions to fit your needs. With more than 20,000 customers, Sage Construction and Real Estate is backed by more than 30 years of experience and award-winning support. Sage Construction and Real Estate is part of Sage North America and The Sage Group plc, a leading global supplier of business management software and services.

 

Originally published in February 2011

Notice

Academies