Integrated Project Insurance will provide the perfect complement to BIM
In response to Graham De Roy’s letter (Best way to insure scheme, www.building.co.uk, 26 July) - the industry may well benefit from the widest form of insurance cover ever designed: Integrated Project Insurance (IPI).
It is one of the new procurement models proposed in the Government Construction Strategy of 2011.
I know that Mr De Roy’s firm Griffiths & Armour has been working with the government and the construction insurance sector to develop and deliver this product, which will render the construction industry more efficient and cost effective.
However, it will only be available on projects where the consultants, specialist contractors and suppliers are appointed as an integrated project team from the outset.
In addition to covering financial loss over and above the “agreed cost plan” which results from material damage, IPI will also cover financial loss due to other causes such
as building defects and cost overrun.
It will provide a perfect complement to the use of BIM and is currently being tested by a number of pilot projects.
Louise Lado-Byrnes, via www.building.co.uk