What is Return Period? Basic 101
In the context of natural disasters like floods, the return period refers to the average time interval between the occurrences of events of a particular magnitude or severity. It is…
Why do DSU and BI exclude variable cost?
Variable cost refers to expenses that change proportionally with the level of production or business activity. These costs vary based on the volume of output or the level of sales…
What can go wrong on professional Design in MRT project? What insurance can provide protection?
The professional design fee for MRT (Mass Rapid Transit) track work can vary depending on the specific circumstances of the project, such as the scope and complexity of the track…
What are Interconnector risks?
An interconnector for a subsea cable refers to the infrastructure that connects two or more electrical grids located in different countries or regions through an underwater cable system. These interconnectors…
What is Construction Gauge and its risks?
In railway track construction, the term "construction gauge" refers to the predetermined width between the inner sides of the two rails. It is an essential parameter that ensures proper alignment…
What are the Employer’s Risks under the EPC Contract in common?
Under an Engineering, Procurement, and Construction (EPC) contract, the employer, or client, typically transfers a significant portion of project risk to the contractor. However, there are still certain risks that…
What are Loss Payee, Additional Insured and Insured?
From an insurance perspective, "Additional Insured" and "Loss Payee" are both terms used to describe how parties other than the named insured are covered under an insurance policy. However, they…
What are the differences between additional increased cost of working cover (AICOW) and increased cost of working (ICOW) cover?
The terms "additional increased cost of working cover" and "increased cost of working cover" are related to insurance policies that provide coverage for financial losses incurred by a business due…
How does turnover based annual construction all risks insurance programme work?
A turnover-based annual construction all risks insurance program is a type of insurance coverage specifically designed for construction projects. It provides protection against a wide range of risks and perils…
What is EBOP , CBOP and fully wrap EPC in construction terms?
In the context of balance of plant (BOP) in power plants, the terms EBOP, CBOP, and fully wrap EPC are typically used to describe different approaches or contracting arrangements for…
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