Maintenance, is it WELCARed for? Maintenance cover on offshore projects – CAR policies and the 2001 WELCAR terms

In a rare court decision on matters relating to construction all risk insurance policies, in the case of Munich Re Capital Limited v Ascot Corporate Name Limited [2019] the Commercial Court considered the application of maintenance cover under the provisions of an Offshore Construction All Risks (“CAR”) policy on WELCAR 2001 Offshore Construction Project Policy (“WELCAR”) terms.

In this article, Nathan Modell and Sophie Bryant consider the court’s approach to maintenance periods in CAR policies and the importance of ensuing consistency between insurance and reinsurance wordings.

To read the full article, please click on the link below.