Willis QS 1963 cutter guide cover.qxd 01/06/04 17:55 Page ... · Willis monitors closely the security of insurance and reinsurance markets world-wide.We seek to ensure, as far as

Willis Construction Risks

�� Plantation Place, London courtesy of The British Land CompanyPLC and Simon Hazelgrove

Designed by Willis, Global Design Centre. Printed by The Astron Group.

Willis Limited

��Ten Trinity SquareLondon EC3P 3AXUnited KingdomTel: +44 (0)20 7488 8111

25B Vreeland RoadSuite 212Florham ParkNew Jersey 07932USATel: +1 973 410 1022

www.willis.com

Willis Limited, Registered number: 181116 England and Wales.Registered address: Ten Trinity Square, London EC3P 3AX.

Lloyd's Broker and Member of the General Insurance Standards Council.CON/1963/05/04

QS 1963 cutter guide cover.qxd 01/06/04 17:55 Page 1

2 �� Construction

��The British Land Company PLC

��51, Lime Street.

24 storey development of the mostmodern office accomodation in the

heart of the City of London, adjacentto the Lloyd’s Building.

This site is set to be the new Willisheadquarters in 2007

��3 years

Lime Street – Courtesy of The BritishLand Company PLC

QS 1963 cutter guide cover.qxd 01/06/04 17:55 Page 2

�� Construction 3

Willis was founded in 1828 and is one of thelongest established and largest insurance brokersin the world.

Willis’ Construction Risks, part of the WillisGroup, was formed in 1964 and comprised 4people; we now employ over 600 peopleworldwide and place a total of $1.5 billion worthof premium per year.

We provide services from London and the USA to our regional operations in Europe, the Far East,the Middle East, Australasia and South America.

We can boast a London based team of 65construction specialists from a variety of differentbackgrounds, each contributing to what makes us unique – breadth and depth of experience,client-focused global expertise delivered locallyand unified industry commitment.

We have brokers, engineers, lawyers, insurancetechnicians, former underwriters and former

construction risk managers all working togetherto design and deliver solutions for all aspects ofthe industry from specific projects to bespokeannual programmes for contractors. Our diversearray of expertise and strong market leveragemeans we bring our clients the most cost-effective programmes.

Willis’ Construction Risks specialise in riskidentification and analysis and in the design anddelivery of tailor-made risk transfer programmes.

We deliver a wide range of products and services to owners, developers, contractors,project managers, project financiers, professionalconsultants and insurers, from the planning stageof any construction project through to its finalcompletion and beyond.

Willis’ Construction Risks' unique blend oftechnical know-how, market experience andservice commitment underpins its reputation for innovation, creativity and professionalism.

Willis’ Construction Risks – strengththrough diversity and market leverage

�� We do not believe in “one-size fits all”, and pride ourselves on tailoring bespoke programmes that will fit your needs,ensuring you never have gaps in cover.


��London and Continental Railways

��Channel Tunnel Rail LinkThe United Kingdom’s largest infrastructure project, including108km of railway, over 25% of the route (26km) in deeptunnel and a 1.3km viaduct

��9 years

��£3.2 billion

Channel Tunnel Rail Link images Courtesy of Union Railwaysand Rail Link Engineering


��

We've consistently developed innovative risksolutions for some of the most famous worldwideprojects to date, including:

– the Channel Tunnel Rail Link in the UK

– the new Hong Kong Airport

– the world's first ever world-scale privately-financed Gas-To-Liquids project in Qatar.

��

Quality people work for quality companies. WillisConstruction attracts the best people in themarket because we are a market leader. For ourclients, the benefits are simple - expert advicethat is prompt, accurate and concise.

��

Construction is a highly complex and extremelytechnical industry. With the right people,specialisation and volume of business, we ensurethat we remain at the cutting edge in this sector.

Our clients get the best advice available and theattention to detail that can only come from aspecialist broker like Willis.

!��"��"��

As the only totally integrated constructiondepartment amongst the major global brokers,

our claims team are co-located in the samebuilding. This guarantees that any issue arisingaround a claim will be dealt with immediately.

All our services are managed under oneconvenient roof including research anddevelopment, business development, brokingresources, account executives and claims.

��""��

Our services are bespoke because your needs are individual. We never assume otherwise.

!��

We know without a loyal client base, we can't deliver value. The client is first, ALWAYS.We take pride in our service.

!��"��#��

The Client Advocate is a dedicated professionalwho acts as a portal between, you, the client andthe Global Willis Team drawing on our worldwideresources to deliver you the best possiblesolutions where they are required.

While you may be helped by Willis specialists inmany offices around the world, it is the ClientAdvocate who will be dedicated to your account.

You can have peace of mind knowing that a focused individual will be responsible for your needs.

The Willis difference – why Willis?

"The expertise and skill of the Willis team has made the insurancemanagement of this huge project very straight-forward. Our ClientAdvocate delivered the solutions in a truly professional and pro-active manner." $�� %��!�&��'


Our Client Advocates take advantage of global resources to bringyou the best solution locally. Client interests remain paramount.

We have on the ground specialist construction resources aroundthe world, ensuring you have local expertise wherever you are.

Our major construction hubs are:

– UK– USA– Australia– China/Hong Kong– France (in association with Gras Savoye)– Italy– Spain– Germany– UAE– Scandinavia

Global resources, local delivery - 'glocal'

��Nigeria LNG

��The Nigeria LNG Plus Project - construction of twoadditional trains to produce 8.2 Mtpa of LNG, 1.1 millionMtpa of LPG and 0.4 Mtpa of condensate. The project alsoprovides for extension/modification of the LPG jetty to loadLNG, a new materials off-loading facility, and expansion ofcommon and off-site facilities.

��3½ years

Images courtesy of Nigeria LNG


Our Client Advocates aspire to know andunderstand your business, and realise the necessityof protecting both the physical assets of yourbalance sheet and the liabilities you assume in yourday-to-day business. This gives you peace of mind.

We think beyond insurance, helping our clients achieve their business goals.

Our formula is simple:

– We do not judge

– We listen

– We take notes

– We listen some more

– We work under 'One Flag' – that is, oneteam, to find our answers.

We then deliver you the best solution locally,to enhance your business success drawing on our global resources and various world insurance markets.

When we identify the right solution for yourneeds, we're able to match that to the rightprovider in any of the major markets - thatmeans the best solution at the best terms.

��

Through our strong market presence – we placeover $1.5 billion worth of construction premiumglobally – we have competitive advantage,forging strong relationships and developing newand exclusive products.

This market presence, combined with technicalknow-how, means we have successfully delivered1000's of bespoke solutions to companies like yours.

(��

We are proud to be a driving force in developinginnovative risk solutions. Below are a selection ofthe major world-wide projects for which we haveprovided a risk solution:

)��Nigeria LNG, NigeriaOryx GTL, Qatar

��Channel Tunnel Rail Link, UKPhase 2 Extension to Dubai International Airport,UAE

��"��MTR Corporation Property Developments,Hong KongCanary Wharf, UK

�� *$��Sarlux IGCC Power Plant, ItalyRijnmond Power Plant, Netherlands

+��Aluminium Bahrain Potline 5 Expansion, BahrainBHP Billiton Hillside III Expansion Project,South Africa

+��BAT Production Plants UMC 12inch Wafer Fabrication Plant, Singapore

Our passion is protecting your balance sheet



��Tacoma Narrows Constructors being a joint venture between Bechtel and Peter Kiewit

��Tacoma Narrows Bridge Project comprisingconstruction of a new suspension bridge (5,400 feet inlength with a main span of 2,800 feet) and a seismicupgrade & redecking of the existing bridge

��51/2 years

��US$570 million

Image courtesy of Bechtel Corporation and Tacoma Narrows Constructors


Our principal products for Owners and Contractors include:

– Construction "All Risks"

– Third Party Liability

– Advance Loss of Profits/Delay in Start-Up

– Latent Defects & Decennale

– Contractors Annual Insurance Programmes

– Professional Indemnity

– Pollution & Environmental

– Bonds & Surety

– Political Risks

– Marine Transit

– Marine Consequential Loss

– Kidnap and Ransom

Our products

"Willis responded to every one of our tender requirements and was superior in every scoring category."+!��%�,��-��.��"��'


Bespoke services for owners and contractors

��We identify those risks which might adversely affect project

completion on time, on budget and to specification. We identifythe insurability of those risks, advise on risk retention and

prepare an outline of insurance solutions to the parties involved. �� We advise on appropriate revisions to insurance-relatedindemnity provisions contained in commercialcontracts. Insurance summaries or draft wordings areavailable to assist you with commercial contractnegotiations.��

Our underwriting information presentations are thorough, accurateand professionally presented. We spend time with the client and, ifappropriate, members of their project team, in order to understandall of the risk management and control features implemented. This

ensures that each risk attracts the attention it deserves from theinsurance market.

+��Our pre-eminent position in the worldwideconstruction insurance market enables us to keepour clients fully advised of market developments. Italso allows us to comment widely on the scopeand availability of coverage from insurance marketsglobally and through our market leverage,negotiate exclusive capacity.

/�� Policies that are designed around your needs,with protection for your key assets, liabilities

and financial exposures.

&�� We are expert in the provision of services for projectswhere structured finance is employed and, in particular,managing the requirements where lending is on a nonor limited-recourse basis. We have advised on morethan 700 projects in all sectors.

��Borealis A/S

��Borstar® Polypropylene Plant Project, Austria

��2 years

��US$175 million

Image courtesy of Borealis and Tecon Engineering GmbH


��"��'�

Willis monitors closely the security of insurance and reinsurance markets world-wide. We seek toensure, as far as we are reasonably able, that our clients’ risks are placed with secure and solventcarriers, which will meet valid claims as and when they fall due.

Whilst we do not guarantee the financial strength or solvency of any carrier utilised, Willis does attachthe highest priority to security issues.

Willis has a team of 25 professionals globally, trained in a range of disciplines, including financial andmanagement accountancy, insurance, banking, insolvency and general research. This includes analystswho have particular responsibility and experience in respect of Lloyd’s of London.

Willis’ Market Security Department monitors all carriers in use on an annual basis, which requires anin-depth understanding of the factors and influences affecting different markets around the world. Thereview includes consideration of the opinions of rating agencies and market commentaries globally.

Insurance market security review


"These days the strength of your broker and the financial security ofyour insurer are the two most important factors to consider whendetermining who you deal with. Willis Construction delivers on thekey issues."&� ��01��%�+��/��%�2��%��


Claims management and consultancy

Our claims management experts are an integral part of our client servicing team, playing an active role in designing claims procedures, establishing policy liability, and negotiating quantum with insurersleading to settlement.

This co-ordinated approach ensures that when a claim event does occur all parties are fully aware ofpolicy coverage issues. Early involvement of the claims team facilitates efficient loss notification andadjustment, leading to prompt and fair settlement of claims. This helps minimise any delays in projectcompletion and the adverse financial consequences these may bring.

�&�3+�)4�+�&)��

LARGEST EVERT SINGLE CIVIL ENGINEERING CLAIM PAID BY THE LONDON INSURANCE MARKET!

�� Heathrow Express – £100 million plus

/�� Rapid Transit System Tunnel Collapse.

Willis supplied a senior member of the claims department to the assured for two years to co-ordinate the claims presented from the many different contractors involved. The collective claims resulted in the largest single civil engineering claim paid by the London insurance market.

Willis Limited

Construction RisksTen Trinity SquareLondon EC3P 3AXUnited KingdomTel: +44 (0)20 7488 8111

25B Vreeland RoadSuite 212Florham ParkNew Jersey 07932USATel: +1 973 410 1022

www.willis.com

Willis Limited, Registered number: 181116 England and Wales.Registered address: Ten Trinity Square, London EC3P 3AX.

Lloyd's Broker and Member of the General Insurance Standards Council.CON/1963/05/04

Documents

Willis QS 1963 cutter guide cover.qxd 01/06/04 17:55 Page ... · Willis monitors closely the security of insurance and reinsurance markets world-wide.We seek to ensure, as far as