COVID-19 Construction in Ireland, Planning, Response and Recovery
Following An Taoiseach Leo Varadkar’s announcement on Friday 27th March resulting in site closures, new realities created by COVID-19 are dramatically affecting companies operating in the construction and development sector.
Construction firms in Ireland face an uncertain period as they begin to navigate through initial challenges such as secure site closures and workforce management as well as managing contractual relationships with employers and other stakeholders.
Longer term, planning for recovery from the COVID-19 crisis, through maintaining pipeline, cash flow management and executing a response and recovery plan that enables firms to come out of this period with their business without a long lasting impact on their business.
Marsh collaborated with law firm Eversheds Sutherland for a one-hour webcast on practical steps than can be taken to help construction clients to respond and recover from risk issues brought on by the ongoing COVID-19 pandemic.
This webinar covers key areas such as:
- Health and Safety: An overview of the effect of emergency legislation and essential services exemptions, an overview from a Health and Safety perspective, helpful practical steps, as well as the expected HSA approach.
- Implications on construction contracts: Impact of Covid-19 on existing contracts, force majeure, variations and impact including termination, breach and/or suspension/termination.
- Site closures and insurance considerations: Risk Management, security, closure checklists and key considerations, as well as applicable insurance clauses to be aware of, along with initial claims notification trends.
- Crisis planning and management: Suggesting areas of immediate focus and guidance on taking a practical approach to your crisis response and validating decision-making.
We have also subject matter experts dealing with specific queries around financial considerations with bond and surety markets, defensibility measures for liability claims and insight concerning insurer reactions to cover triggers relating to COVID-19.
It is difficult to judge how long it will take for the construction sector in Ireland to recover, however the firms that take proactive steps to respond and recover will put themselves in the best possible position to limit the impact of COVID-19 to the longer-term future of their business.