ABSTRACT
Construction projects range from digging a hole in the ground to construction of a multi-billion pound project such as the Channel Tunnel. The insurance of property risks after completion of construction projects is generally outside the purview of this chapter. By contrast, there is a lively market for political risk insurance in respect of projects in certain countries outside the United Kingdom. The necessity for a construction project is the availability of some where to execute the project whether on land or at sea or both. In any competent organisation concerned with delivering construction projects there will be a process of risk assessment. The assessment carried out will vary depending upon the commercial interests and function of the party on whose behalf the assessment is carried out usually the developer client. The chances of profitable development of land for any commercial purposes are dependent upon having or obtaining necessary permissions from the local or central planning authorities.
