Insurance Consultancy
What is the objective of the service we provide?
Our Insurance Consultancy service ensures that there will be an objective and fact-based assessment of each risk. With the appropriate action, our service can demonstrate that these risks will have a “Risk Profile” in the top quartile of best practice risk management. This will provide the various stakeholders with a high degree of comfort and certainty that the key material risks are successfully managed. All stakeholders will benefit from this process, not just the project insurers.
The benefits of this service for insurers are:
- Project risk profile reduction
- More competitive premiums – market competitiveness
- Independent project oversight and risk management by a highly experienced team of construction professionals
- Project risk data collation leading to improved underwriting of this insurance into the future
- Ensures objectivity and structure to risk management initiatives undertaken on major projects.
The following are the key elements in managing a major project risk:
- Effective risk identification, assessment, and quantification
- Design review and desktop study/risk assessment – The Catalyst team will undertake a pre-construction risk assessment highlighting the critical risks to be managed throughout the project.
- Creation of project-specific risk register – a bespoke risk register for each individual project based on the pre-commencement project review and experience and data held by Catalyst over many major projects.
- Creation of project-specific risk-based inspection plan and benchmarking schedule focussed on key high-risk items identified.
- Effective risk management
- Technical inspections on site by Catalyst’s multidisciplinary team focused on key risks identified during pre-commencement project review in the risk register and monitoring of the progress of works.
- Raising issues and queries with the project team during construction whilst tracking closeout of a project-specific risk register.
- Identifying new risks during construction and ensuring the project team implements appropriate measures to mitigate such risks.
- Collation of key risk mitigation documentation
All the above is coordinated across all the key stakeholders from pre-project risk assessment to practical completion.
Projects
Bonham Quay
- Service: Technical Advisory Services
- Sector: Property Developers
- Location: Galway, Ireland
- Development Size: 38,644 m2
- Development Type: Commercial
Francis Street Staycity Apartment Hotel
- Service: Technical Advisory Services
- Sector: Property Developers
- Location: Dublin, Ireland
- Development Type: Hospitality
Marianella
- Service: Technical Advisory Services
- Sector: Property Developers
- Location: Dublin, Ireland
- Development Size: 31,698 m2
- Development Type: Residential