While the elevation of the risk agenda has been ongoing, it has picked up speed in the construction industry with the rise of Giga projects and challenges in insurance capacity, especially in correlated risks such as exposure to natural catastrophe/force majeure perils.

Bechtel is one of the most respected engineering, construction and project management companies in the world, steeped in history and with expert knowledge of Giga projects.

In this session involving senior managers from Bechtel we will hear their views on managing risks against the rise in size and volume of major projects. We will look at trends in geopolitical events that increase levels of risks for all parties including Owners, Contractors and the full EPC supply chain as well as their increased challenges for the allocation of risks, the implications on insurance programmes as a result of threats such as inflation and supply chain concerns and areas that may require new or innovative risk transfer solutions and create challenges to contractors under fixed-price contracts. We will also discuss opportunities and challenges relating to current insurance market capacity to adequately insure the risks on these large projects. 

This session will also provide a unique insight into how major organisations approach risk and how their leaders combine to work together at all stages of the risk management approach for a project, from initial screening through to the project execution phase.