Construction

Construction companies around the world are exposed to delays caused by bad weather from excessive rain, snow, wind, and temperatures, or waves and currents in offshore environments.

 

Contractual arrangements are frequently vague when dealing with the risk of delays and who has to bear the associated costs. Increasingly contractors are being asked to assume more or all weather risks, or are looking to differentiate themselves by offering to assume weather delay risk.

The weather risk management industry offers tailored solutions to the construction industry by providing:

  • Highest quality weather data from WMO stations and gridded satellite data or dedicated on-site installations via a network of leading weather data providers
  • In-depth analysis of the delay risk weather poses at specific locations based on contractor work schedules provided by the world’s leading weather brokers, insurers, and specialist consultants
  • Solutions to insure some or all of these risk via insurance, reinsurance, or derivatives from the leading global insurance reinsurance and specialist funds
  • Assistance in purchasing and placing cover via the world’s leading weather brokers