Contractors look further a field for projects but growth economies create challenges

5th October 2011, Stockholm: Presenting 'Insuring Major Infrastructure Projects in Europe' at the FERMA Risk management Forum 2011, JLT Specialty Limited (JLT) has warned that as we see slower deal flow for major infrastructure projects in Europe many contractors will be looking internationally to places like Latin America, Asia and North America for projects.

"For contractors the move to new territories can offer a number of challenges in terms of manpower, understanding the business and building environment and cultural barriers and customs" warns Bernadette Hackett Partner, Construction and Real Estate, JLT.

"It's easy to assume an infrastructure project will be the same anywhere in the world but risks can differ greatly in different territories, both physical and political. Generally construction insurance rates remain competitive and there is still lots of capacity for major infrastructure projects. However, contractors should not think this means that they don't need to have a detailed understanding of their risks based on location".

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Isabella Young
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