The long-term outlook for the construction industry is positive however the sector also faces a number of short-term and long-term challenges ranging from the prospect of recessions, geopolitical conflicts, supply chain strains and cost overruns, the need to meet decarbonisation targets, increased risks from climate change and managing an ongoing talent gap.

With escalating risks, risk and insurance managers are faced with increased challenges to ensure that they have adequate insurance programmes in place and have openly called for more support from their insurance partners.

This opening session will explore the magnitude of these new risks and the challenges they represent. It will examine how risk managers need to prepare and innovate in order to identity, manage and mitigate their exposure to these new threats and it will explore the state of the insurance market and ask if new insurance models could be created through collaborative working to better align the interests of both the insurance and the construction industry.