Elliott Wood continued its tradition of forward thinking and innovation by hosting a breakfast seminar at the Building Centre in London to discuss Integrated Project Insurance (IPI). The event which included speakers from the insurance, legal and construction industry debated the issues of the current methods of contract and insurances. With over 80 guests from a wide range of the construction industry it yielded some interesting questions and debates, and brought the idea of IPI to a wider audience.
Integrated Project Insurance is the first in a new generation of Insurance Backed Alliancing that unlocks the potential of Integrated Collaborative Working to deliver superior outcomes and value for all.
Current methods, contract and insurances have grown up to support a fragmented industry and have now matured into barriers to change. As a result, duplication, redesign, reworking, waste and inefficiency have become commonplace.
IPI is designed to sweep away these millstones, replacing them with an inclusive alliance contract and a single insurance policy to replace the myriad of policies up and down the supply chain.