In this episode of Construction Blueprints, our experts dive into the world of latent defect insurance, exploring its benefits in the wake of high-profile contractors' demise and how it can protect developers and owners.
They also discuss the best time to secure a latent defect insurance (LDI) policy and the extra safeguards it provides against contractor insolvency.
Navigating LDI for developers and owners
Transcript for this episode
PETER WALLACE: If you have, say, 50, 60 million pounds of installations from a mechanical-electrical point of view, then you might see a 10 million M&E limit on the policy. And that is a function of those two things, limited markets and positive alternative guarantees and warranties. Because it's easier to find the source of a defect in a mechanical-electrical system than it is in a lump of concrete.
SPEAKER: Welcome to the WTW podcast Construction Blueprints, where we discuss the latest risk management and insurance trends, as well as issues facing the construction industry. We'll speak with a variety of construction leaders and experts on global topics, who can help provide you a blueprint for building your industry knowledge.
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