Claims Assessor Advisory

In many cases events that lead to loss and/or damage to property or third parties cannot be avoided. Wyndham Kellett have the skill and experience to ensure insurers pay out rapidly.

When the insured makes a claim, the insurer will appoint a team of loss adjusters who will scrutinise the insured’s circumstances to find a reason to pay as little as possible. Our team of construction insurance professionals prepare claims that will satisfy the requirements of the insurance policy and that will withstand scrutiny by the insurer’s forensic engineers and other analysts acting for the insurer.

We provide advice on all crucial aspects of the insurance claim to minimise the chance of your insurance claim being repudiated.

Contractor’s All Risk Insurance Advisory

Contractors all-risks insurance cover all risks associated with a construction project and it is often issued under the joint names of a contractor and the employer of a project.

Cover typically protects against the cost of unforeseen loss or damage to building works, machinery movement, advanced business interruption, and public liability etc.

Wyndham Kellett can analyse the proposed cover against the specific characteristics of a project and ensure that the policy covers the applicable risks. We can review whether the proposed cover to ensure compliance with the conditions of the underlying construction contract.

 

Bonds & Guarantees Advisory

Performance bonds are a vital tool in the construction industry in order to insure a client against the risk of a contractor failing to fulfil contractual obligations to the client.

Wyndham Kellett can advise on whether a performance bond should be required on a project and will take into account many factors, including the perceived financial strength of the party bidding to win a contract. In some cases, securing a parent company guarantee can offer alternative risk protection.

The specific wording of these financial instruments is deliberate. For instance, the difference between an ‘on-demand’ or a ‘conditional’ bond is severe and has an impact on the functionality of the bond. Wyndham Kellett recognises the importance of understanding what type of bond is being provided prior to obtaining the bond to ensure adequate coverage of the risk.

Surety Action Solutions

Fortunately, Employers or Clients rarely need to call on their Bonds or Guarantees.  However, sometimes it is necessary to do so when a Contractor is unable, for whatever reason, to perform his duties and the Bond or Guarantee must be called-on to ensure the project’s timely completion.

It is crucial to rapidly record the facts at play and communicate all the pertinent information to the key project stakeholders, including the Administrators appointed on the surety provider’s behalf, to limit the scope for a dispute. To this end, our people in London, Hong Kong, Sydney, Melbourne, Dubai and Kuwait are at hand to be deployed at short notice to inspect sites and provide preliminary views that are invaluable for efficient fact-finding.

WK draws on highly experienced engineers, project managers and quantity surveyors along with our in-house legal knowledge and technical expertise to provide a swift and accurate assessment of the works on severely distressed projects. Our experience in managing construction and engineering projects allows us to perform in-depth forensic analysis of the circumstances at play. We can identify opportunities to improve project cash flows by ensuring that third parties, such as subcontractors, are fulfilling their payment obligations. This approach can limit, or even eliminate, the need for the bond/ guarantee to be called on whatsoever.

In the event the bond or guarantee is called on, WK can also provide staff to oversee the project management and contract administration of a project to complete the outstanding works.