Insurance Advisory Services for GCLR Stage 3 Project
Awarded 08 Jul 2020
About
Transport and Main Roads awarded a contract to Lockton Companies Australia Pty Ltd for specialist risk transfer and insurance advice and services to the GCLR Stage 3 project team, focusing on the currency, adequacy, and effectiveness of project-specific insurances.
The role included due diligence review on behalf of the State of the Operator Franchisee Initiated Modification and the insurance proposal from GoldlinQ, assessing the proposal against obligations in the Project Deed, Project Scope Requirements, and Stage 3 Works Deed.
The insurance reviews covered Project Professional Indemnity, D&C Contractor (Employers Liability & Workers Comp, Motor Vehicle Insurance, Plant & Equipment, Contract Works Material Damage Insurance, Contract Works Legal Liability Insurance, Advanced Business Interruption Insurance), existing operational insurance policies (if required), and marine insurance for the LRVs and D&C equipment.
The contract value was AUD 41,250, procured via a limited method.
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