Major project failures — ranging from catastrophic cost overruns to structural defects, contractor insolvency and schedule collapses — remain among the most financially devastating risks facing owners and contractors of large and multinational construction undertakings. These failures often stem from a complex mix of design coordination issues, supply chain disruptions, misaligned incentives, workforce challenges and inadequate risk controls. When they occur, the consequences reverberate through financing arrangements, stakeholder relationships, regulatory obligations and insurance programmes. With global megaprojects increasing in size and complexity, the margin for error has narrowed and the need for robust risk strategies has never been greater.

This panel brings together senior risk leaders, brokers, insurers and construction executives to dissect real-world project failure scenarios and examine what went wrong —  and what could have prevented or mitigated the losses. Through a risk-transfer lens, panelists will explore how insurance programmes respond to major failures, how to avoid coverage gaps, and how to integrate more proactive controls at the design, procurement and execution stages. Attendees will leave with practical guidance on risk identification, contractual allocation, collaborative risk engineering and data-driven early-warning mechanisms designed to reduce the likelihood and severity of project failure.