ABSTRACT
Chapter 12 addressed the ways in which oil companies and contractors typically allocate risk in offshore construction projects between themselves. Chapter 14 considers the way in which risk can be transferred to others through insurance. The chapter begins with an overview of the fundamental principles of insurance law before providing an introduction to the different types of policy available. It then discusses the WELCAR construction all risks policy wording in more detail, given its central importance in providing cover for the physical property of the facility under construction, as well as some of the liabilities that arise out of the construction project.
