Sky-high Risk: The Impact of Increasing Hi-Rise Construction
Skylines in Toronto and the rest of the world are rising. With an increasing number of hi-rise construction projects in the pipeline, we explore the risks associated with these enormous projects.
Hi-rise construction requires increased risk mitigation and transfer strategies to avoid costly damage, delays, and litigation, which can prove challenging to developers.
Marsh has set out to identify the key risks surrounding the construction of tall towers in urban areas and how costly losses and delays might be avoided, including:
Heightened construction risks, including damage to works and delay.
- Increased third-party risks, such as third-party liability and environmental.
- Unique tall building risks, such as right of light disputes
- Condensed construction area and the surrounding exposures
Our UK construction practice has put together a report on these risks outlined above. For further insights and questions, please contact Ryan Matheson or Gaurav Kapoor.