Risk Consulting 1/2020, Construction issue

  • cover page of risk consulting magazine.

    Risk Consulting, Construction 2020

    Read the latest articles from If.

    You can also download the magazine pdf (2 MB, new window)

  • wind mill construction site

    Enabling renewable energy projects

    The rise of renewables is one of the biggest changes in the global energy supply. With increasing awareness on the negative impact of fossil fuels, the focus is on the transition to renewable energy. The Nordic region has a long history in renewable energy.

    Take a look at the risks in offshore projects
  • unfinished office building construction site.

    When the work stops

    Although many CAR/EAR projects are delivered smoothly, construction projects can face delays and unforeseen challenges that impact construction or erection works. Standstills and the temporary suspension of work on any project can lead to serious losses.

    See top tips to avoid losses in CAR/EAR projects
  • big contstructions site office building and crane.

    Protecting your project from start-up delays

    When does a project need Delay in Start-Up (DSU) cover? Are you prepared for unexpected delays in your project? Learn how you can protect your project and ensure that DSU risks are properly managed throughout the project.

    Read about DSU, Delay in Start-Up insurance
  • men working at metro construction site.

    Delivering the 'Cityringen' project

    The ‘Cityringen’ project in Copenhagen was completed with the opening of the new M3 Cityringen line in September of 2019. The biggest infrastructure project in Copenhagen since the 17th century,

    Learn about challenges in the project
  • block of flats.

    A look into 2020 with Skanska

    Karl-Johan Rodert, Insurance Manager at Skanska provides insights into the opportunities
    and challenges the construction industry faces today, and what lies ahead for 2020. What are the key trends? Opportunities and challenges?

    Read about trends in construction industries
  • plastic packages for food.

    Wihuri Group minimises fire risks at the planning stage

    The packaging business of the Wihuri Group is one of the world’s leading producers of packaging materials for the food and medical supply industries. Managing fire risks will give an important competitive edge.

    Learn about taking safety aspects into account
  • windmill park on water.

    Ørsted wins top honours in Global 100

    This year the renewable energy company Ørsted has been ranked as the world’s most sustainable company in the Corporate Knights’ 2020 index of the Global 100 most sustainable corporations in the world.

    Ørsted is the first energy company to top this list, read more

Construction - an industry in transition

When we look at the trends impacting the Construction industry over the past years, we see new eco-friendly building materials, the rise of prefabrication, as well as increased digitalisation. Meanwhile the industry is vulnerable to market fluctuations and challenged by a lack of skilled workers, as well as the availability of raw materials.

“Digitalisation is bringing in new ways to measure performance, as well as helping to automate tasks to help ensure the safety of a project. In this issue of Risk Consulting, we highlight how digital solutions are adding value, by way of robotics, digital modelling and virtual reality. Read the Skanska article to learn more.

Clients are making use of digital solutions and data to better understand their risks, manage quality and deliver their projects on time. This also applies to reporting, where more data is gathered to measure performance on the work being completed.

A reliable partner

At If P&C Insurance, we do our best to provide the coverages that offer our clients the best possible protection. Whether big or small, construction projects often face multiple risks. Often, bringing your insurance partner along early on will ensure that you get the best coverage for your construction project.

Clients benefit from our expertise in the project as well. If’s Risk Engineers work together with clients to ensure that projects are mitigating risks, progressing in accordance with initial planning and taking all the relevant details into account. From working safety to utilising the best possible building materials, having our risk management team involved early on will provide additional protection for your investment.

Poul Steffensen, Head of Business Area Industrial, If.
Poul Steffensen, Head of Business Area Industrial, If

Short news

Insights into Global Risks

In January of 2020, the World Economic Forum has published its 15th Global Risks Report. Among many significant highlights, one key insight from the report notes that: “For the first time in the survey’s 10-year outlook, the top five global risks in terms of likelihood are all environmental.”

The report compiles the greatest concerns of over 750 global experts and decision-makers and provides forecasts on the likelihood and impact of these events. Overall, 78% of people surveyed believed that “economic confrontations” as well as “domestic political polarization” will stand to increase in 2020.

Excavator sales growth in China

Early indicators of growth for the construction sector in China include the sales of excavators and other construction equipment. According to China Construction Machinery Association, the sales of excavators has seen year-on-year growth of up to almost 22%. This suggests that the Chinese government efforts are taking effect as pressure to spur on growth is mounting amidst a slight economic downturn. These efforts are expected to continue in the coming year. 

Robots enter construction sites

The construction industry continues to evolve. New technologies from software to robots are becoming increasingly common at work sites around the world. As contractors struggle to find laborers, robots provide a viable option. They do not get sick or experience fatigue and can work without breaks in a reliable and cost-efficient manner. However, the use of robotics is in its early stages with many tasks (such as electrical work) still demanding human involvement.