Society of Professional Engineers in Thailand (SPET) Meeting August 2019

Society of Professional Engineers in Thailand (SPET) Meeting August 2019

Dear SPET Members,

Please find the attached flyer for the next meeting to be held at the British Club, Soi 18, Silom Road, Bangkok at 6.30pm on Thursday 15 August 2019.

Unprecedented Construction Claims Driving the Insurance Cycle and the Importance of Contract Detail When Things Go Wrong” By Stephen Boddington, Jardine Lloyd Thompson Limited

The  insurance  industry  is  notoriously  cyclical  and  we  have  seen  many  years  of  insurers  cutting  premiums  in order  to  attract  business.    This  has  been  good  for  contractors  and  owners,  but  the  magnitude  of  recent construction claims has forced the insurance industry worldwide to examine not only the profitability, but also the viability of underwriting long term large scale construction projects.  The days of supply exceeding demand are at an end and in addition to sharing details of recent events, Stephen Boddington will share experiences of the market corrections which he has witnessed over the a long career in the industry.

A corollary of these corrections has been, and continues to be, the increased importance of accurate contract wordings.  Faced with pressure from the Boardroom, insurance underwriters are looking at every loophole they can find to mitigate claims costs.  Coupled with this is an effort to apportion blame elsewhere, and Stephen will also discuss the contractual and insurance implications of the faulty workmanship allegations surrounding the Hong Kong MTR Sha Tin Expansion, which impact all contractors.

Stephen  Boddington  has  in  excess  of  32  years  insurance  broking  experience,  26  years  of  which  have  been spent specializing in providing insurance and risk solutions for the construction industry.  He heads up Marsh JLT’s construction team in Asia and is a member of the Global Construction practice.  Based in Hong Kong and maintains responsibility for major construction projects and clients in Asia and Asian interests abroad plus Marsh JLT’s 75+ dedicated construction specialists.

Please advise Chris Moore by e-mail that you will be attending in order to gauge fluid matters.

Entry fee is Baht 200 for Members of SPET and Baht 400 for all others.

Kindly respond by email to Christopher Moore spet.bangkok AT gmail.com OR chris AT lasanne.com or on 081-824-1648.

Best regards

Christopher Moore

Flyer 15-Aug 19 by stephen boddington JLT