As the construction projects and in particular those that involve tunnels and underground works are becoming more complex and challenging, one of the key success factors is the early and continuous involvement of qualified and experienced Risk Engineering and Management Consultants for the insurance placement and coverage. Ruler now fills in the gap between technical expertise in the construction sector and risk engineering capabilities in the insurance industry.

In the framework of risk engineering in the insurance pre-placement stages, Ruler experts can prepare the underwriting report, summarizing the key risk elements of the project and presenting the highest quality data to underwriters.

In cases of complex projects, Ruler experts will describe among others, the main project elements and construction methodologies, the use of innovative technology and potential risks, multiple contract interfaces and associated introduced risks. Furthermore, underwriters require that a benchmarking exercise is undertaken before they commit to a construction project that involves major tunnel and underground works. This benchmarking exercise will be carried out, based on the schedule of deliverables specified in the Code of Practice for Risk Management of Tunnel Works, issued by the International Tunnelling Insurance Group (ITIG).

During the different project stages and depending on the project complexity and risk profile, Ruler experts can carry out risk engineering surveys as required by the Insurers in order to review the project and risk management practices and verify the on-going compliance with the Code of Practice.

Ruler experts can also assess the main project hazards and associated risk scenarios and provide an estimate of the Probable Maximum Loss, facilitating the underwriters in their decision making process.