sigma No 2/2018: Constructing the future: recent developments in engineering insurance
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Engineering insurance is a specialty line of business that provides protection against losses from unforeseen circumstances during the construction and operation of plant, buildings, and infrastructure. With annual premiums of around USD 21 billion, it represents only a small part (around 3%) of the overall commercial insurance market. However, without such cover many construction projects and the operation of vital machinery would prove prohibitively risky to undertake.