‘DSU Insurance – New Publication Webinar’
20th of March at 11am GMT
The Insurance Institute of London launched a new publication ‘Delay in Start-up Insurance’ on 1st December 2022, the latest output in its revered Research Study Group series. This publication represents a significant up-grade of and supersedes ‘Insurance of Revenue for Projects Under Construction’ published in 2003 and is available in hard copy and electronic forms.
DSU is intrinsically linked to Construction Insurance, Marine Cargo Insurance and Business Interruption Insurance, each of which are in themselves complex classes of insurance, and DSU represents an even more complicated, and often very challenging, type of insurance. Whilst considerable experience may have been gained by some market practitioners and buyers of DSU insurance over recent decades, it rather still remains an area where some fundamental misconceptions, misunderstandings and gaps in knowledge continue to persist across all sectors of the insurance industry and, therefore, among its clients. The aim of the new publication is to address these problems in clear and digestible language and illustrations. It offers something for all readers regardless of their existing level of experience in the subject.
Stephen Coward, Lead Author, will talk about the content of new book and key DSU Insurance (Construction and Marine Cargo) topics. He will be joined by Steven Horne of CCI, a leading specialist in all forms of project delay, and a co-author of ‘Delay in Start-up Insurance’. There will be a Q&A session at the end of the webinar.
A little bit more about the speakers!
Stephen’s insurance career spans 50 years, having retired in 2017 from his executive leadership role at Navigators Group, where he was President of Navigators Technical Risk, a global business division for underwriting energy and engineering risks. His teams were located around the world, most prominently in London, New York and Houston, Texas.
Before assuming this senior role and the prior position as Managing Director of Navigators’ Lloyd’s Syndicate 1221 in 2005, Stephen had spent most of his career as a lead underwriter in engineering risks, especially infrastructure construction projects. As an underwriter he gained considerable expertise in DSU insurance and was frequently invited to speak on construction-related topics at both industry and risk management conferences, including lectures around the world.
Stephen is a founding member of the influential London Engineering Group (LEG) and was its chairman in 1988, 2002 and 2003. He also led the group’s Business Interruption Sub-Committee for ten years from 1994.
Stephen has a distinguished record as an author of various publications by the Insurance Institute of London, most notably for his involvement in ‘Insuring Industrial and Process Machinery’ (ASG237) – 2000 and ‘Insurance of Revenue for Projects under Construction’ (RSG254) – 2003. Since retiring, Stephen has been called upon to provide independent expert opinion to help resolve energy/engineering (re)insurance disputes and to provide more general underwriting guidance through audit and peer review assignments.
Steven Horne, BSc (Hons) PGCert ACIArb
Steven is a Managing Director with Capital Consulting International (CCi) and has been appointed as Delay Expert for cases referred to litigation (UK High Court), international arbitration and adjudication.
Having started his career as a Planning Engineer with a building services contractor, Steven moved to CCi in 2011 and for the past decade has specialised in analysing DSU claims, becoming recognised as one of the world’s most experienced DSU focused delay experts. He has advised insurance markets in the UK, Europe, Middle East, Africa, North America, Latin America and Asia Pacific.
Steven has shared his experience and knowledge of DSU delay analysis at industry conferences across the UK and Asia, having been invited to speak at events hosted by the Chartered Institute of Loss Adjusters (CILA), the London Engineering Group (LEG), the Onshore Energy Conference (OEC), the Singapore Insurance Institute (SII) and the South East Asia Property and Energy Conference (SEAPEC).