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15 Things You Must Know About Insuring Mega-Projects: Initial Considerations for the Owner (Part One, #1-#5)

from Risk & Insurance

America has entered the era of the "mega project." While the term is notably rather loose in industry definition, it generally refers to projects in excess of $1 billion and encompasses large-scale infrastructure work, such as airports, bridges, tunnels and highway systems, power and rail, to commercial use structures like skyscrapers and hospital complexes. ... Risk on these complex projects is exponentially higher, with a myriad of issues, impacts and damages that can and often do arise in orchestrated, multiparty settings moving at an accelerated pace. Risk management and proper allocation of risk is a paramount theme, not only at time of contract negotiation and formation but also throughout project execution and close-out. more

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