The ability to obtain the most suitable insurance for a project alliance largely depends on the skill and experience of the insurance broker. However, it is also very important that stakeholders with a detailed understanding of the project and the associated risks assist the broker in preparing the underwriting document. The insurance advisor and/or the risk advisor may be required to continue to work with the broker to refine the underwriting submission in circumstances where the:
• insurance quotes obtained appear uncompetitive;
• insurance terms are not likely to be beneficial; and
• insurance sought is unavailable.